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The DSV Partnership decided to liquidate as of June 30,205. Its balance sheet as of this date follows: Additional Information 1. The personal assets (excluding partnership loan and capital interests) and personal liabilities of each partner as of June 30,205, follow: 2. The DSV Partnership was liquidated during the months of July, August, and September. The assets sold and the amounts realized follow: 3. The accounts payable of $405,000 was paid in July. Assume the following cash amounts were received during the months of July, August, and September from the sale of DSV Partnership's noncash assets: The partnership wishes to keep $10,000 of cash on hand at the end of both July and August to pay for unexpected liquidation expenses. It paid liquidation expenses of $2,500 at the end of each month, July, August, and September. D, S, and V share profits and losses in the ratio 50:30:20, respectively. Prepare a statement as of June 30,205, showing how cash will be distributed among partners as it becomes available. Note: Do not round your intermediate calculations. Round your final answers to nearest whole dollar. Prepare schedules showing how cash is distributed at the end of July, August, and September 205. Note: Do not round your intermediate calculations. Round your final answers to nearest whole dollar. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{10}{|c|}{ DSV PARTNERSHIP } \\ \hline \multicolumn{10}{|c|}{ Capital Account Balances } \\ \hline \multicolumn{10}{|c|}{ June 30, 20X5, through September 30, 205} \\ \hline & & D & & & s & & & V & \\ \hline Profit and loss ratio & & 50 & % & & 30 & % & & & % \\ \hline Preliquidation balances, June 30 & $ & 100,000 & & $ & 140,000 & & $ & 75,000 & \\ \hline \multicolumn{10}{|c|}{ July loss on disposal of assets and payment of liquidation costs } \\ \hline & $ & 100,000 & & $ & 140,000 & & $ & 75,000 & \\ \hline \multicolumn{10}{|c|}{ July 31 distribution of available cash to partners (Schedule 1) in First layer: } \\ \hline & $ & 100,000 & & $ & 140,000 & & $ & 75,000 & \\ \hline \multicolumn{10}{|c|}{ August loss on disposal of assets and payment of liquidation costs } \\ \hline & $ & 100,000 & & $ & 140,000 & & $ & 75,000 & \\ \hline \multicolumn{10}{|c|}{\begin{tabular}{l} August 31 distribution of available cash to partners (Schedule 2) Remaining \\ layer of which paid on July 31 \end{tabular}} \\ \hline \multicolumn{10}{|l|}{ Next layer: } \\ \hline \multicolumn{10}{|l|}{s} \\ \hline \multicolumn{10}{|l|}{ V } \\ \hline & $ & 100,000 & & $ & 140,000 & & $ & 75,000 & \\ \hline \multicolumn{10}{|c|}{ September loss on disposal of assets and payment of liquidation costs } \\ \hline & $ & 100,000 & & $ & 140,000 & & $ & 75,000 & \\ \hline \multicolumn{10}{|l|}{ Distribution of D's deficit } \\ \hline & $ & 100,000 & & $ & 140,000 & & $ & 75,000 & \\ \hline \multicolumn{10}{|c|}{\begin{tabular}{l} September 30 distribution of available cash to partners (Schedule 3 ) Next \\ layer of which paid on August 31 \end{tabular}} \\ \hline \multicolumn{10}{|l|}{s} \\ \hline \multicolumn{10}{|l|}{V} \\ \hline Postliquidation balances & $ & 100,000 & & $ & 140,000 & & $ & 75,000 & \\ \hline \end{tabular} Required A Required B

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