Essay
The partnership of Brandon and Ryan is being liquidated. All gains and losses are shared in a 3:1 ratio, respectively. Before liquidation, their balance sheet balances are as follows: 
a) If the Other Assets are sold for $10,000, how much capital will each partner receive have before paying liabilities and distributing the remaining assets?
b) If the Other Assets are sold for $7,000, how much capital will each partner have before paying liabilities and distributing remaining assets?
Correct Answer:
Verified
Correct Answer:
Verified
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