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What final cash settlement to owen and adar respectively be

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Problem 1: After working together for 3 years, partners Owen and Adar, who share profits 3:2 decided to liquidate the partnership. Owen and Adar had capital balances of $85,000 and $45,000 respectively, prior to liquidation. If the noncash assets are realized at $10,000 below book value, the final cash settlement to Owen and Adar respectively should be:

A. $70,000; $70,000

B. $60,000; $60,000

C. $79,000; $41,000

D. $91,000; $49,000

E. $72,000; $48,000

Reference no: EM132810027

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