The Abrams,Bartle,and Creighton Partnership Began the Process of Liquidation with the Following

question 59

Multiple Choice

The Abrams,Bartle,and Creighton partnership began the process of liquidation with the following balance sheet: $\begin{array}{lrlr}\text { Cash } & \$ 16,000 & \text { Liabilities } & \$ 150,000 \\\text { Noncash assets } & 434,000 & \text { Abrams, capital } & 80,000\\&&\text { Bartle, capital } & 90,000 \\&&\text { Creighton, capital } & 130,000 \\\text { Total }&\$450,000&\text { Total } & \$ 450,000\end{array}$ Abrams,Bartle,and Creighton share profits and losses in a ratio of 3:2:5.Liquidation expenses are expected to be $12,000.
After the liquidation expenses of $12,000 were paid and the noncash assets sold,Creighton had a deficit of $8,000.For what amount were the noncash assets sold?

• A)$170,000.
• B)$264,000.
• C)$158,000.
• D)$146,000.
• E)$185,000.

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