Daynen Company at December 31 has cash 20,000, non-cash assets 100,000, liabilities 55,000, and the following capital

Question:

Daynen Company at December 31 has cash £20,000, non-cash assets £100,000, liabilities £55,000, and the following capital balances: Day £45,000 and Nen £20,000. The firm is liquidated, and £120,000 in cash is received for the non-cash assets. Day and Nen income ratios are 55% and 45%, respectively.
Instructions
Prepare a cash schedule.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...