NAL TEST FOR ACCOUNTING 230 (test starts at 11:30 a.m). ot ered 25 ed out of tion The balance sheet of Morgan and Rockwell was as follows immediately prior to the partnership's being liquidated: cash, $20,000: other assets, $160,000; liabilities, $40,000: Morgan capital, $60,000: Rockwell capital. $80,000. The other assets were sold for $139.000. Morgan and Rockwell share profits and losses in a 2:1 ratio. As a final cash distribution from the liquidation, Morgan will receive cash totaling Select one: Oa. $46,000 O b. $60,000 O c. $51.000 Od. $49.500 Previous page Next page