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

question 34

Multiple Choice

The Abrams, Bartle, and Creighton partnership began the process of liquidation with the following balance sheet: $$\begin{array} { l l l r r } \text { Cash } & \$ 16,000 & & \text { Liabilities } & \$ 150,000 \\\text { Noncash assets } & 434,000 & & \text { Abrams, capital } & 80,000 \\& & & \text { Bartle, capital } & 90,000 \\& & & \text { Creighton, capital } & 130,000 \\\text { Total } & \underline { \$ 450,000 } & & \text { Total } & \$ 450,000 \\\hline \hline\end{array}$$
Abrams, Bartle, and Creighton share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $12,000.
If the noncash assets were sold for $234,000, what amount of the loss would have been allocated to Bartle?

• A) $43,200.
• B) $46,800.
• C) $40,000.
• D) $42,400.
• E) $43,100.

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Definitions:

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Superior

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Supportive

Providing assistance or encouragement to others.

Flexible

Capable of being easily modified or adapted to new, different, or changing requirements.