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In liquidation of Peterson, Laney and Howell Partnership, balances prior to the distribution of cash...

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Accounting

In liquidation of Peterson, Laney and Howell Partnership, balances prior to the distribution of cash to the partners are: Cash $900,000; Peterson, Capital $420,000; Laney, Capital $390,000, and Howell, Capital $90,000. The income ratio is 6:2:2, respectively. How much cash should be distributed to Peterson? a. $420,000 b. $450,000 c. $375,000 d. $408,750

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