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Please answer the problem attached, thanks! Question 3 Not yet answered Marked out of 8.00 P Flag question Kent Co. filed a voluntary bankruptcy petition
Please answer the problem attached, thanks!
Question 3 Not yet answered Marked out of 8.00 P Flag question Kent Co. filed a voluntary bankruptcy petition on August 15, 2021, and the statement of affairs reflected the following amounts: Assets Book Value Est. Current Value Assets pledged with fully secured creditors P300,000 P370,000 Assets pledged with partially secured creditors 180,000 120,000 Free Assets 420,000 320,000 Total P900,000 P810.000 Liabilities Liabilities with priority P70,000 Fully secured creditors 260,000 Partially secured creditors 200,000 Unsecured creditors 540,000 Total 1.070,000 Answer the following: (answers can be repeated) Choose... Assume that the assets are converted to cash at the estimated current values and the business is liquidated. What amount of cash will be available to pay unsecured non-priority claims? How much is the total unsecured creditors without priority? Choose... Choose... What is the total deficiency amount for unsecured creditors? What is the estimated recovery percentage or dividend to general unsecured creditors? ChooseStep by Step Solution
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