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What is the book value of noncash assets for caloy

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Reference no: EM132810025

Problem 1: 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: EM132810025

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