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Sonbull [250]
3 years ago
10

The partnership of Brandon and Ryan is being liquidated. All gains and losses are shared in a 3:1 ratio, respectively. Before li

quidation, their balance sheet balances are as follows: a. If the Other Assets are sold for $10,000, how much will each partner receive before paying liabilities and distributing the remaining assets? b. If the Other Assets are sold for $8,000, how much will each partner receive before paying liabilities and distributing remaining assets?
Business
1 answer:
Travka [436]3 years ago
6 0
The answers are the following:
a. 
Brandon:
$7,000 + [($10,000/4)×3¿= $8,500
Ryan:
$7,000 + [($10,000/4)×1¿= $7,500

b.
Brandon $7,000
Ryan <span>$7,000</span>
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