The keaton, lewis, and meador partnership had the following balance sheet just before entering liquidation: cash $ 100,000 liabilities $ 40,000 noncash assets 210,000 keaton, capital 90,000 lewis, capital 60,000 meador, capital 120,000 total $ 310,000 total $ 310,000 keaton, lewis, and meador share profits and losses in a ratio of 2: 4: 4. assume that noncash assets were sold for $58,000 and liquidation expenses in the amount of $10,000 were incurred. if lewis was personally insolvent and could not contribute any assets to the partnership, and keaton and meador were both solvent, what amount of cash would keaton receive from the distribution of partnership assets

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.