REFERENCE: 10-02
the Keaton,Lewis,and Meador Partnership Had the Following Balance

REFERENCE: 10-02
The Keaton,Lewis,and Meador partnership had the following balance sheet just before entering liquidation:
$$\begin{array} { | l | c | l | l | r | } \hline \text { Cash } & \$ 100,000 & & \text { Liabilities } & \$ 40,000 \\\hline \text { Nuncash assets } & \underline { 210,000 } & & \text { Keaton, Capital } & 90,000 \\\hline & & & \text { Lewis, Capital } & 60,000 \\\hline & & & \text { Meador, Capital } & 120,000 \\\hline \text { Total } & \$ \underline { 110,000 } & & \text { Total } & \$ \underline { 110,000 } \\\hline\end{array}$$ Keaton,Lewis,and Meador share profits and losses in a ratio of 2:4:4.
-Assuming noncash assets were sold for $60,000,how much will each partner receive in the liquidation?
$\begin{array} { ccc} && \text { Keatan } & \text { Lewis } & \text { Meadar } \\\end{array}$
A) $\begin{array} { ccc} & \$ 40,000 & \$ 26,667 & \$ 53,333 \\\end{array}$
B) $\begin{array} { ccc} & \$ 24,000 & \$ 48,000 & \$ 48,000 \\\end{array}$
C) $\begin{array} { ccc} & \$ 56,667 & \$ 100 & &\$ 53,333 \\\end{array}$
D) $\begin{array} { ccc} & \$ \quad 0 &&\$ 100 &&& \$ 120,000 \\\end{array}$
E) $\begin{array} { ccc} & \$ 36,000 & \$ 12,000 & \$ 72,000 \\\end{array}$