The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash Noncash assets $ 61,000 329,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (308) Marichal, capital (20%) $ 55,000 42,500 107,500 97,500 87,500 a. Liquidation expenses are estimated to be $21,000. Prepare a predistribution schedule to guide the distribution of cash. b. Assume that assets costing $99,000 are sold for $72,500. How is the available cash to be divided? Reg A1 Reg A2 Req B Assume that assets costing $99,000 are sold for $72,500. Prepare loss allocation table. Partner Loss Capital Balance Alle ce Allocation Maximum Loss That Can Be Absorbed Schedule 1 Drysdale Koufax Marichal Schedule 2 Koufax Marichal $ $ $ 150,000 50 97,500 30 87,500 20 % % % $ $ $ 300,000 325,000 437,500 60 % Reg A1 Reg A2 ReqB Liquidation expenses are estimated to be $21,000. Prepare a predistribution schedule to guide the distribution of cash. $ 55,000 21,000 100% DRYSLADE, KOUFAX, AND MARICHAL Distribution of Available Cash First $ 76,000 Liabilities Liquidation expenses Next Marichal Next Koufax Marichal All remaining cash Drysdale Koufax Marichal 40 Reg A1 Req A2 Req B Assume that assets costing $99,000 are sold for $72,500. How is the available cash to be divided? Drysdale Koufax Marichal $ 97,500 $ 87,500 Reported balances 150,000 150,000 $ 0 $ 0 Assumed loss Schedule 1 Adjusted balances Assumed loss Schedule 2 Adjusted balances $ 0 $ 0