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5A.) The following condensed balance sheet is presented for the partnership of Axel, Barr and Cain, who share profits and losses in the ratio of
5A.) The following condensed balance sheet is presented for the partnership of Axel, Barr and Cain, who share profits and losses in the ratio of 4:3:3, respectively. Cash 100,000 300,000 400,000 Other assets Total assets 150,000 40,000 180,000 30,000 400,000 Liabilities Axel, capital Barr, capital Cain, capital Total liabilities and capital The partners agreed to dissolve the partnership after selling the other assets for $200,000. Upon dissolution of the partnership, how much should each partner receive? Answer-7 points ( show calculation)
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