Partners ken and macki each have a 40000 capital balance, Ask an Expert

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Partners Ken and Macki each have a $40,000 capital balance and share income and losses in a 3:2. Cash equals $20,000, noncash assets equal $120,000, and liabilities equal $60,000. If the noncash assets are sold for $60,000, and both partners agree to make up an capital deficits with personal cash contributions, what Partner Macki will eventually receive cash of ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M988208

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