PLEASE ANSWER THE EMPTY ONES, THE EXISTED NUMBERS ARE CORRECT!
Need ANSWER for "Bottom of A1(Step 2)", FULL answer for A2 and ANSWER for "Bottom part of B (Cash distribution to partners:)"
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The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: $ Cash Noncash assets 40,000 224,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $ 47,500 18.500 76,000 66,000 56,000 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 $19,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $78,000 are sold for $62,000. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg B 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. Partner Capital Balance Loss Allocation Maximum Loss That Can Be Absorbed $ % $ $ 94,500 50 66.000 30 56,000 20 % Step 1 Drysdale Koufax Marichal Step 2 Koufax $ 189,000 220,000 280,000 $ % $ % 60 40 Marichal % Reg A1 Req A2 > The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: $ Cash Noncash assets 40,000 224,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $ 47,500 18,500 76,000 66,000 56,000 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 $19,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $78,000 are sold for $62,000. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg B Liquidation expenses are estimated to be $19,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. DRYSDALE, KOUFAX, AND MARICHAL Distribution of Available Cash Liabilities Liquidation expenses First Next Next % % All remaining cash % % 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 $19,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $78,000 are sold for $62,000. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Reg B Assume that assets costing $78,000 are sold for $62,000. 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 $ 40.000 62,000 $ 102,000 47,500 19,000 35,500 $ Koufax Marichal Total Cash distribution to partners: Drysdale First Next Next Total $ 0 $ 0$ 0 $ 0 The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: $ Cash Noncash assets 40,000 224,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $ 47,500 18,500 76,000 66,000 56,000 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 $19,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $78,000 are sold for $62,000. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg B Liquidation expenses are estimated to be $19,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. DRYSDALE, KOUFAX, AND MARICHAL Distribution of Available Cash Liabilities Liquidation expenses First Next Next % % All remaining cash % % 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 $19,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $78,000 are sold for $62,000. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Reg B Assume that assets costing $78,000 are sold for $62,000. 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 $ 40.000 62,000 $ 102,000 47,500 19,000 35,500 $ Koufax Marichal Total Cash distribution to partners: Drysdale First Next Next Total $ 0 $ 0$ 0 $ 0
