The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash Noncash assets $ 47,000 259,800 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $44,000 32,500 86,500 76,500 66,580 a. Liquidation expenses are estimated to be $26,000. Prepare a predistribution schedule to guide the distribution of cash. b. Assume that assets costing $85,000 are sold for $65,500. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Req Al 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 9 Step 1 Drysdale Koufax Marichal Step 2 Koufax Marichal 26 98 Reg A2 > The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidati $ Cash Noncash assets 47,000 259,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $ 44,000 32,580 86,500 76,500 66,5ee a. Liquidation expenses are estimated to be $26,000. Prepare a predistribution schedule to guide the distribut b. Assume that assets costing $85,000 are sold for $65,500. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Req B Liquidation expenses are estimated to be $26,000. Prepare a predistribution schedule to guide the distribution of cast DRYSLADE, KOUFAX, AND MARICHAL Distribution of Available Cash First Liabilities Liquidation expenses Next Next % All remaining cash % % % The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash Noncash assets $ 47,000 259,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $ 44,000 32,500 86,500 76,500 66,500 a. Liquidation expenses are estimated to be $26,000. Prepare a predistribution schedule to guide the distribution of cas b. Assume that assets costing $85,000 are sold for $65,500. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 ReqB Assume that assets costing $85,000 are sold for $65,500. 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 $ 0 $ 0 Koufax Marichal Total Cash distribution to partners Drysdale First $15,500 Next $8,500 Next $18,500 Total $ 0 $ S $ 0 DALA