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QUESTION
CASH NONCASH ASSETS 27,000.00 254,000.00 LIABILITIES SIMPSON, CAPITAL (20%) HART, CAPITAL (40%) BOBB, CAPITAL (20%) REIDL, CAPITAL (20%) TOTAL ASSETS...
A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total $19,000. The business’s balance sheet prior to the commencement of liquidation is as follows:
Cash$ 27,000
