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Sedgwick Company_ schedule of cash payments

$6.00

Category: Accounting Tags: 0, 1, 2, 60and, account, accounting, aets100000, balances, balancethen, capital, cash, company, december, dewitt, enter, floyd45000, following, income, liabilities, negative, noncash, number, orparenthesis, payments, paymentsif, preceding, ratios, received, reduces, respectivelyprepare, schedule, sedgwick, sign
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Description

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).)

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