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Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Edward, Noble, and Finn, respectively. Assets Liabilities and Owner's Equity
Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Edward, Noble, and Finn, respectively. Assets Liabilities and Owner's Equity Cash $54200 Accounts payable $126400 Accounts receivable 131400 Edward, Capital 137700 Inventory 437400 Noble, Capital 47500 Finn, Capital 311400 $623000 * $623000 Assume that, as part of liquidation proceedings, Granobfin sells its noncash assets for $510800. The amount of cash that would ultimately be distributed to Finn would be $514600. $288200. $204320. $311400. Attempts: 0 of 1 used
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