Use the Following Account Balance Information for Granobfin Partnership with Income

question 35

Multiple Choice

Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Granger Noble and Finn respectively.
- Assume that as part of liquidation proceedings Granobfin sells its noncash assets for $510000. The amount of cash that would ultimately be distributed to Finn would be

• A) $312000.
• B) $288000.
• C) $204000.
• D) $516000.

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