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Determine the estate deficit, as of July 31, 2019. To denote a deficit, use parenthesis The Liquid Company had a very unstable financial condition caused

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Determine the estate deficit, as of July 31, 2019. To denote a deficit, use parenthesis

The Liquid Company had a very unstable financial condition caused by a deficiency of liquid assets. On February 4.2019; the following information was available: P 112,000.00 Cash Assets Not Realized: Accounts Receivable... Merchandise inventory... Investment in common stock Land Buildings Machinery and equipment Liabilities Not Liquidated: Notes Payable Accounts payable Salaries and Wages Taxes payable Bank loan Estate deficit 80,000.00 160,000.00 26,400.00 100,000.00 60,000.00 48,000.00 P 244,000.00 288,000.00 40,000.00 8,000.00 180,000.00 (173,600.00) During the six-month period ending July 31, 2019, the trustee sold the Investment in Common Stock for P26,000, realized P84,000 for the accounts receivable, sold the merchandise for P152,000, and paid off P26,000 of the bank loan and all liabilities with priorities (salaries, and wages payable taxes payable) as well as 27,440 for estate administration expenses Determine the estate deficit, as of July 31, 2019. To denote a deficit, use parenthesis.eg (10000). Your

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