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Prepare an advance cash distribution plan

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Question - The trial balance for the XYZ Partnership is as follows just before liquidation: Cash 200,000, Other Assets 750,000, Baker Receivable 100,000, Liabilities 150,000, Able Capital 400,000, Baker Capital 370,000, Charly Capital 130,000 Partners share profits a 60:20:20 ratio. Prepare an advance cash distribution plan showing how available cash would be distributed.

Reference no: EM131880600

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