1. The Abrams, Bartle, and Creighton partnership began the process of liquidation with the following balance sheet:

Abrams, Bartle, and Creighton share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $12,000. After the liquidation expenses of $12,000 were paid and the noncash assets sold, Creighton had a deficit of $8,000. For what amount were the noncash assets sold?

Multiple Choice

• $170,000.

• $264,000.

• $158,000.

• $146,000.

• $185,000.

The Abrams, Bartle, and Creighton partnership began the process of liquidation with the following balang $ Cash Noncash assets 16,000 434,000 Liabilities Abrams, capital Bartle, capital Creighton, capital Total $ 150,000 80,000 90,000 130,000 $ 450,000 Total $ 450,000 Abrams, Bartle, and Creighton share profits and losses in a ratio of 3.2:5. Liquidation expenses are expec After the liquidation expenses of $12,000 were paid and the noncash assets sold, Creighton had a defici amount were the noncash assets sold? Multiple Choice $170,000