The following are data for the AB Partnership and for A and B as individuals. Assume that A and B are equal partners.

Required

For each case, indicate how the assets of the partnership and the assets of each partner are applied if creditor claims are satisfied as fully as possible.

\begin{tabular}{|l|r|r|} \hline AB Partnership & Case 1 & Case 2 \\ \hline Cash & $48,000 & $31,000 \\ \hline Liabilities & 42,000 & 51,000 \\ \hline Capital-A & 3,000 & (8,000) \\ \hline Capital-B & 3,000 & (12,000) \\ \hline Partner A & & \\ \hline Cash & 10,000 & 30,000 \\ \hline Liabilities & 17,000 & 17,000 \\ \hline Partner B & & \\ \hline Cash & 50,000 & 15,000 \\ \hline Liabilities & 9,000 & 16,000 \\ \hline \end{tabular}