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Can I please get help with requirement 2 and 3 where I have blank boxes. Thank you The Drysdale, Koufax, and Marichal partnership has the

Can I please get help with requirement 2 and 3 where I have blank boxes. Thank you

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The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash Noncash assets $ 43,000 239,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $ 45,500 25,000 80,500 70,500 60,500 a-1. Determine the maximum loss that can be absorbed in Step 1. Then, assuming that this loss has been incurred, determine the next maximum loss that can be absorbed in Step 2. a-2. Liquidation expenses are estimated to be $22,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $81,000 are sold for $63,500. How is the available cash to be divided? Req A1 Req A2 Req B Liquidation expenses are estimated to be $22,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. First Next Next DRYSDALE, KOUFAX, AND MARICHAL Distribution of Available Cash $ 67,500 Liabilities $ 45,500 Liquidation 22,000 expenses Marichal 100 Koufax 60 Marichal 40 Drysdale 50 Koufax 30 Marichal 20 % % % All remaining cash % % % Assume that assets costing $81,000 are sold for $63,500. How is the available cash to be divided? Cash available for distribution: Beginning cash balance Sale of noncash assets Subtotal Payment of liabilities Payment of estimated liquidation expenses Cash available for distribution $ 43,000 63,500 $106,500 (45,500) (22,000) $ 39,000 Koufax Marichal Total Cash distribution to partners: Drysdale First Next Next Total $ 0 $ 0 $ 0 $ 0

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