The balance sheet of Fox Partnership at Septembe 30, 20XX shows: Various assets 400,000 Various...
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The balance sheet of Fox Partnership at Septembe 30, 20XX shows: Various assets 400,000 Various liabilities 100,000 Capital Thomas 120,000 Capital Renee 90,000 Capital Oscar 60,000 Capital Yvonne 30,000 The partners share income equally. Under a cash distribution plan, how would the fist $150,000 be distributed? (Points : 1) $100,000 to creditors, $50,000 equally among the four partners $100,000 to creditors, $40,000 to Thomas, $10,000 to Renee $100,000 to creditors, $50,000 equally to Thomas and Oscar $100,000 to creditors, $50,000 equally among Thomas, Renee, and Oscar
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