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.

Question

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.