Question
A company that was to be liquidated had the following liabilities: Income taxes $10,400 N/P (secured by land) 156,000 A/P 107,900 Salaries payable to employees
A company that was to be liquidated had the following liabilities:
Income taxes $10,400
N/P (secured by land) 156,000
A/P 107,900
Salaries payable to employees ($16,000 for Sami and $2500 for Maya) 18,500
Bonds payable 81,000
Administrative expenses 26,000
The company had the following assets:
Book value Fair value
Current assets 104,000 49,200
Land 130,000 117,000
Building 130,000 143,000
Total assets available to pay liabilities with priority and unsecured creditors are calculated to be?
A. $185,900 B. $166,200 C. $192,200 D. $192,000
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Ethical Hacking The Ultimate Guide To Using Penetration Testing To Audit And Improve The Cybersecurity Of Computer Networks For Beginners Including Tips On Social Engineering
Authors: Lester Evans
1st Edition
1647481813, 978-1647481810
