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Use the Following Account Balance Information for Granobfin Partnership with Income

Question 110

Multiple Choice

Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Granger Noble and Finn respectively. Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Granger Noble and Finn respectively.   -Assume that as part of liquidation proceedings Granobfin sells its noncash assets for $360000. As a result one of the partners has a capital deficiency which that partner decides not to repay. The amount of cash that would ultimately be distributed to Finn would be A)  $312000. B)  $228000. C)  $144000. D)  $204000.
-Assume that as part of liquidation proceedings Granobfin sells its noncash assets for $360000. As a result one of the partners has a capital deficiency which that partner decides not to repay. The amount of cash that would ultimately be distributed to Finn would be


A) $312000.
B) $228000.
C) $144000.
D) $204000.

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