The Allen, Bevell, and Carter partnership began the process of liquidation with the following balance sheet: Allen, Bevell, and Carter share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $14,000.If the noncash assets were sold for $275,000, what amount of the loss would have been allocated to Bevell with respect to the noncash assets?
A) $55,000.
B) $50,000.
C) $45,000.
D) $46,800.
E) $42,400.

Question

The Allen, Bevell, and Carter partnership began the process of liquidation with the following balance sheet:  Allen, Bevell, and Carter share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $14,000.If the noncash assets were sold for $275,000, what amount of the loss would have been allocated to Bevell with respect to the noncash assets?
A) $55,000. 
B) $50,000. 
C) $45,000. 
D) $46,800. 
E) $42,400.

Quizplus · Accepted Answer

The Answer of The Allen, Bevell, and Carter partnership began the process of liquidation with the following balance sheet:  Allen, Bevell, and Carter share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $14,000.If the noncash assets were sold for $275,000, what amount of the loss would have been allocated to Bevell with respect to the noncash assets?
A) $55,000. 
B) $50,000. 
C) $45,000. 
D) $46,800. 
E) $42,400.

The Allen, Bevell, and Carter Partnership Began the Process of Liquidation