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The partnership of Brandon and Ryan is being liquidated. All gains and losses arc shared In a 3:1 ratio, respectively Before liquidation, their balance sheet
The partnership of Brandon and Ryan is being liquidated. All gains and losses arc shared In a 3:1 ratio, respectively Before liquidation, their balance sheet balances are as follows: Cash $10,000 Other Assets 8.000 Liabilities 4.000 Brandon, Capita l7.000 Ryan, Capital 7.000 If the Other Assets are sold (or $10,000. how much will each partner receive before paying liabilities and distributing the remaining assets? b. It the Other Assets ate sold for $8,000. how much will each partner receive before paying liabilities and distributing remaining assets
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