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Prepare a schedule of cash payments

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Question - Wildhorse Company at December 31 has cash $23,200, noncash assets $100,000, liabilities $53,700, and the following capital balances: Floyd $47,900 and DeWitt $21,600. The firm is liquidated, and $119,000 in cash is received for the noncash assets. Floyd and DeWitt income ratios are 60% and 40%, respectively. Prepare a schedule of cash payments.

Reference no: EM132601689

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