The balance sheet of Morgan and Rockwell was as follows immediately prior to the partnership's liquidation: cash, $20,00

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The balance sheet of Morgan and Rockwell was as follows immediately prior to the partnership's liquidation: cash, $20,00

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The Balance Sheet Of Morgan And Rockwell Was As Follows Immediately Prior To The Partnership S Liquidation Cash 20 00 1
The Balance Sheet Of Morgan And Rockwell Was As Follows Immediately Prior To The Partnership S Liquidation Cash 20 00 1 (16.03 KiB) Viewed 74 times
The balance sheet of Morgan and Rockwell was as follows immediately prior to the partnership's liquidation: cash, $20,000; other assets, $160,000; liabilities, $40,000; Morgan, capital, $60,000; Rockwell, capital, $80,000. The other assets were sold for $139,000. Morgan and Rockwell share profits and losses in a 2:1 ratio. As a final cash distribution from the liquidation, Morgan will receive cash totaling Oa. $60,000 Ob. $49,500 Oc. $46,000 Od. $51,000
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