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What is the book value of noncash assets

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Reference no: EM132801976

Question - Rej, Orland, Caloy and Karl, partners sharing 3:4:6:8 have capital balances of 1,000, 25,000, 25,000 and 9,000 respectively prior to liquidation. The partners decided to liquidate the partnership and after converting noncash assets into 23,200 and paying liabilities of 3,000, they still have 22,200 to divide. What is the book value of noncash assets?

a. 25,200

b. 45,400

c. 61,000

d. 63,000

e. None of the above

Reference no: EM132801976

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