Question

please i need your help guys!
(5 points each for a possible total of 10 points) 1. After several years of business, Abel, Barney, and Cole are liquidating. The following are post-closing account balances. Cash 18,000 Inventory 73,000 Other assets 157,000 Accounts Payable 61,000 Abel, Capital 50,000 Barney, Capital 50,000 Cole, Capital 87,000 Noncash assets are sold for $275,000. Profits and losses are shared equally. After all liabilities are paid, divide the remaining cash amongst the partners.

Answer 1

Abel and Barney will both receive $65,000.00.
($50,000 return on capital and $15,000 of the remaining cash)


Cole will receive $102,000.00
($87,000 return on capital and $15,000 of the remaining cash )

hope this helps<3