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Creditors of Jones Corporation are considering petitioning the courts to force the company into Chapter 7 bankruptcy. The following information has been determined. Administrative expenses
Creditors of Jones Corporation are considering petitioning the courts to force the company into Chapter 7 bankruptcy. The following information has been determined. Administrative expenses in connection with the liquidation are estimated to be $47000. Book Realizable Value Accounts receivable Inventory Supplies Investments 5 31,8ee 31,886 43,888 56,880 57,800 8,888 28,800 27,808 85,80e 115,800 5,880 ge,eee 33,806 97,eee 93,888 60,880 Buildings Notes payable (secured by land) Notes payable (secured by buildings) Bonds payable (secured by equipment) Accounts payable Salaries payable (two weeks' salary for three employees) Taxes payable 128,00 165 , 95,80e 31,809 45,80 What is the amount of money that each class of creditors can anticipate receiving? Free assets Liablites with priority Free assets after payment of liabilities with priority Unsecured liabilities Payment on notes payable (secured by land) Payment on notes payable (secured by buildings) Payment on bonds payable Payment on accounts payable (unsecured) Payment of salaries payable Payment of taxes payable Payment of administrative expenses Creditors of Jones Corporation are considering petitioning the courts to force the company into Chapter 7 bankruptcy. The following information has been determined. Administrative expenses in connection with the liquidation are estimated to be $47000. Book Realizable Value Accounts receivable Inventory Supplies Investments 5 31,8ee 31,886 43,888 56,880 57,800 8,888 28,800 27,808 85,80e 115,800 5,880 ge,eee 33,806 97,eee 93,888 60,880 Buildings Notes payable (secured by land) Notes payable (secured by buildings) Bonds payable (secured by equipment) Accounts payable Salaries payable (two weeks' salary for three employees) Taxes payable 128,00 165 , 95,80e 31,809 45,80 What is the amount of money that each class of creditors can anticipate receiving? Free assets Liablites with priority Free assets after payment of liabilities with priority Unsecured liabilities Payment on notes payable (secured by land) Payment on notes payable (secured by buildings) Payment on bonds payable Payment on accounts payable (unsecured) Payment of salaries payable Payment of taxes payable Payment of administrative expenses
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