The Abrams, Bartle, and Creighton partnership began the process of liquidation with the following balance sheet: Cash$16,000 Liabilities$150,000Noncash assets 434,000 Abrams,capital 80,000 Bartle, capital 90,000 Creighton, capital 130,000Total$450,000 Total$450,000??Abrams, Bartle, and Creighton share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $12,000.?Assuming that, after the payment of liquidation expenses in the amount of $12,000 was made and the noncash assets were sold, if Creighton has a deficit of $8,000, for what amount would the noncash assets have been sold?
A. $185,000.
B. $264,000.
C. $158,000.
D. $170,000.
E. $146,000.
Answer: D
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