Mandich Co. had the following amounts for its assets, liabilities, and stockholders' equity accounts just before filing a bankruptcy petition and requesting liquidation:

	Book Value				Net Realizable Value
Cash	$	10,000			$	10,000
Accounts receivable		100,000				60,000
Inventory		350,000				350,000
Land		110,000				75,000
Building and equipment		700,000				300,000
Accounts payable		100,000
Salaries payable		70,000
Notes payable (secured by inventory)		300,000
Employees claims for contributions to pension plans		10,000
Taxes payable		80,000
Liability for accrued expenses		25,000
Bonds payable		500,000
Common stock		200,000
Additional paid-in capital		100,000
Retained earnings (deficit)		(115,000	)

Of the salaries payable, $30,000 was owed to an officer of the company. The remaining amount was owed to salaried employees who had not been paid within the previous 80 days: John Webb was owed $10,600, Samantha Jones was owed $15,000, Sandra Johnson was owed $11,900, and Dennis Roberts was owed $2,500. The maximum owed for any one employee's claims for contributions to benefit plans was $800. Estimated expense for administering the liquidation amounted to $40,000.

What was the total amount of unsecured liabilities with priority

Multiple Choice

• $130,000.

• $155,000.

  Incorrect

• $167,850.

• $197,850.

• $200,000.

  I know that the answer is not 155,000 becaus I tried it the first time and it was wrong

  and then on part 2

  On a statement of financial affairs, what amount would have been shown as assets available to pay liabilities with priority and unsecured creditors?

  Multiple Choice

• $390,000.

• $445,000.

• $495,000.

• $660,000.

$795,000