1. Done is as follows: one Partnership is undergoing liquidation. Information on Cash Accounts receivable Receivable from A 20,000 Accounts payable 60,000 Payable to B 10,000 A; Capital (60%) 120,000 B, Capital (40%) 290,000 500,000 Total Liab. & Equity 30,000 20,000 250,000 Inventory Equipment, net Total 200,000 500,000

The partnership of Winn, Xie, Yang, and Zed has the following balance sheet: Cash Other assets $ 40,000 257,000 Liabilities Winn, capital (50% of profits and losses) Xie, capital (30%) Yang, capital (10%) Zed, capital (10%) Beginning capital Assumed loss of Schedule 1 Step one balances Assumed loss of Schedule 2 Step two balances Assumed loss of Schedule 3 Step three balances Zed is personally insolvent, and one of his creditors is considering suing the partnership for the $3,000 that is currently owed. The creditor realizes that this litigation could result in partnership liquidation and does not wish to force such an extreme action unless Zed is reasonably sure of obtaining at least $3,000 from the liquidation. Prepare a predistribution plan to determine the amount for which the partnership must sell the other assets to ensure that Zed receives $3,000 from the liquidation. Liquidation expenses are expected to be $25,000. (Do not round intermediate calculations.) $ $ $ Winn 0 $ 0 $ 0…

The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash Noncash assets $ 41,000 229,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $46,500 21,000 77,500 67,500 57,500 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 $20,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $79,000 are sold for $62,500. How is the available cash to be divided?

The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation:               Cash $ 37,000 Liabilities $ 49,000 Noncash assets   209,000 Drysdale, loan   12,500       Drysdale, capital (50%)   71,500       Koufax, capital (30%)   61,500       Marichal, capital (20%)   51,500     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 $16,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $75,000 are sold for $60,500. How is the available cash to be divided?