Question
Excel Online Structured Activity: Liquidation At the time it defaulted on its interest payments and filed for bankruptcy, the McDaniel Mining Company had the balance
Excel Online Structured Activity: Liquidation At the time it defaulted on its interest payments and filed for bankruptcy, the McDaniel Mining Company had the balance sheet provided in the Microsoft Excel Online file below. The court, after trying unsuccessfully to reorganize the firm, decided that the only recourse was liquidation. Sale of the foxed assets, which were pledged as collateral to the mortgage bondholders, brought in $390,000, while the current assets were sold for another \$ 330000 . Thus, the total proceeds from the liquidation sale were $720,000. The trustee's costs amounted to \$ 20 : no single worker was due more than \$ 2 in wages; and there were no unfunded pension plan habilities. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. a. How much will McDaniel's shareholders receive from the liquidation? If your answer is zero, enter "0". Round your answer to the nearest dollar. b. How much will the mortgage bondholders receive? If your answer is zero, enter = 0 Round your answer to the nearest dollar. c. How much will other priority claimants receive from the liquidation? Do not round intermediate calculations. Round your answers to the nearest dollar. Amount $ $ Governments' taxes due Workers wages due Total Trustee's expenses Claimant $ Open spreadsheet
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