Alex, Bob, and Ciara are partners, sharing income 2:1:2 respectively. After selling all of the...
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Accounting
Alex, Bob, and Ciara are partners, sharing income 2:1:2 respectively. After selling all of the assets for cash, dividing gains and losses on realization, and paying liabilities, the balances in the capital accounts are as follows: Alex, $10,000 Cr; Bob, $10,000 Cr; and Ciara, $30,000 Cr. How much cash should be distributed to Alex? O a. $6,000 O b. $20,000 O c. $10,000 O d. $16,667 On 1/11/10, Carpet Company borrows $60,000 from National Bank on a 3-month, 8% note. The amount of interest to be accrued on 31/12/10 is: O a. $800 on O b. 1,200 c. $4,800 O d. $400
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