Everett, Miguel, and Ramona are partners, sharing income 1:2:3. After selling all of the assets for cash, dividing losses on realization, and paying liabilities, the balances in the capital accounts are as follows: Everett, $50,000 Cr.; Miguel, $40,000 Dr.; and Ramona, $30,000 Cr. How much cash is available for distribution to the partners?

$40,000 cash is available for distribution to the partners.

Explanation:

Available cash for distribution is the cash remaining after all debit and credit action has been recorded.

Balancing Capital:

Everett:                                                  $50,000 (Cr.)

Miguel:                                                 - $40,000 (Dr.)

Ramona:                                                 $30,000 (Cr.)

Net cash available for distribution =    $40,000

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