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lakina33 lakina33
wrote...
Posts: 3
Rep: 1 0
9 years ago
The partnership of Brandon and Ryan is being liquidated. All gains and losses are shared in a 3:1 ratio, respectively. Before liquidation, their balance sheet balances are as follows:Cash $10,000Other Assets 8,000Liabilities 4,000Brandon, Capital 7,000Ryan, Capital 7,000a. If the Other Assets are sold for $10,000, how much will each partner receive before paying liabilities and distributing the remaining assets?
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