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The Allen, Bevell, and Carter partnership began the process of liquidation with the following balance sheet: Cash Noncash assets $ 25,000 500,000 Liabilities Allen, capital
The Allen, Bevell, and Carter partnership began the process of liquidation with the following balance sheet: Cash Noncash assets $ 25,000 500,000 Liabilities Allen, capital Bevell, capital Carter, capital Total $ 175,000 90,000 100,000 160,000 $525,000 Total $525,000 Allen, Bevell, and Carter share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $14,000. If the noncash assets were sold for $275,000, what amount of the loss would have been allocated to Bevell with respect to the noncash assets
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