Use the Following Account Balance Information for Grinotfin Partnership with Income

question 95

Multiple Choice

Use the following account balance information for Grinotfin Partnership with income ratios of 2:4:4 for Grigsby, Nott, and Fine, respectively. Assume that, as part of liquidation proceedings, Grinotfin sells its noncash assets for $170,000. The amount of cash that would ultimately be distributed to Fine would be:

• A) $104,000.
• B) $96,000.
• C) $68,000.
• D) $172,000.

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