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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:  Cash $16,000 Liabilities $150,000 Noncash assets 434,000 Abrams, capital 80,000 Bartle, capital 90,000 Creighton, capital 130,000 Total $450,000 Total $450,000\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?


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