The balance sheet of Ryan, James and Peter firm as on December 31, 2014, is given below. 
Ryan, Peter, and James share profits in the ratio 3:2:1. They have decided to liquidate the partnership with immediate effect. The furniture and the equipment were sold at a cumulative loss of $6,000. The accounts receivable were duly received in cash and the other assets were written off as worthless. The accounts payable and other liabilities were paid off at book value. James argued that he should receive a portion of the remaining cash, but Peter and Ryan argued otherwise. How much cash should James receive or pay?
Definitions:
Productivity
The measure of efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.
Scientific Management
A theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency, especially labor productivity, by scientific means.
Labor Efficiency
A measure of produced output by a labor unit or units in a defined time period, indicating productivity.
Psychological Growth
Refers to the development and maturation of an individual's mind, character, and ability to cope with and understand their emotions and the emotions of others.
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