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?

Question

Quizplus · Accepted Answer

The noncash assets would have been sold for $170,000. This is because the total amount of the deficit is $8,000, and the liquidation expenses were $12,000. Therefore, the total amount of the noncash assets that were sold is $170,000 ($8,000 + $12,000 = $170,000).

Assuming That, After the Payment of Liquidation Expenses in the Amount