Lowery, Keegan, and Feeney have income ratios of 5 : 3 : 2 and capital balances of $34,000, $31,000, and $28,000, respectively. Noncash assets are sold at a gain. After creditors are paid, $109,000 of cash is available for distribution to the partners. How much cash should be paid to Keegan?
Get Answers For Free
Most questions answered within 1 hours.