Question

Help!! i will give brainliest. no plagiarism. show your work .

Answer 1

Answer:

Please see the answer below:

Explanation:

Balance of Non-Cash Assets = Sale Price - Cost Price

Balance of Non-Cash Assets = $275,000 - ($73,000 + $157,000)

Balance of Non-Cash Assets = $275,000 - $230,000 = $45,000

The Balance on Other Assets sold should be divided equally:

Abel = $50,000 + [$45,000 x 1 / 3] = $50,000 + $15,000 = $65,000

Barney = $50,000 + [$45,000 x 1 / 3] = $50,000 + $15,000 = $65,000

Cole = $87,000 + [$45,000 x 1 / 3] = $87,000 + $15,000 = $102,000