1. Amounts related to the statement of affairs of Windup Company, in a bankruptcy liquidation as April 1, 2020, were as follows:

Assets pledged for fully secured liabilities P80,000

Assets pledged for partially secured liabilities 50,000

Free Assets 272,000

Fully secured liabilities 60,000

Partially secured liabilities 80,000

Unsecured liabilities with priority 40,000

Unsecured liabilities w/o priority 330,000

Compute the: (1) total estimated deficiency to unsecured creditors, and (2) the costs per peso that unsecured creditors may expect to receive from Windup Company.

1 point

(1) P 78,000; (2) P.76

(1) P108,000; (2) P.70

(1) P108,000;(2) P.81

(1) P158,000; (2) P.61

2. Donnas provide payroll software, bookkeeping services and tax assistance for standalone prices of P80,000, P30,000 and P50,000 respectively. Clients can acquire the software or services separately or as a bundled package for P120,000. Which of the following is true?

a. Transaction price allocated to payroll software is 60,000

b. Transaction price allocated to bookeeping services is 25,000

c. Transaction price allocated to tax assistance is 40,000.

d. Transaction price allocated to payroll software is 75,000