Nettles, King, and Tanaka are partners sharing income 3:2:1. After the firms loss from liquidation...
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Nettles, King, and Tanaka are partners sharing income 3:2:1. After the firms loss from liquidation is distributed, the capital account balances were as follows: Nettles, $60,000 Dr.; King, $228,000 Cr.; and Tanaka, $152,000 Cr. If Nettles is personally bankrupt and unable to pay any of the $60,000, what will be the amount of cash received by King and Tanaka upon liquidation? Nettles King Tanaka capital balances after realization
distribution of partner deficiency
capital balance after deficiency dis
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