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Sedgwick Company_ schedule of cash payments




Question;Sedgwick Company at December 31 has cash $20,000, noncash assets;$100,000, liabilities $55,000, and the following capital balances: Floyd;$45,000 and DeWitt $20,000. The firm is liquidated, and $105,000 in;cash is received for the noncash assets. Floyd and DeWitt income ratios are 60%;and 40%, respectively.;Prepare a schedule of cash payments.(If an amount reduces the account balance;then enter with a negative sign preceding the number e.g. -15,000 or;parenthesis e.g. (15,000).)


Paper#37278 | Written in 18-Jul-2015

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