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please help me ASAP .. i cant submit my homework Chapter 13 Homework Stred 00 Lynch, Inc. is a hardware store operating in Boulder, Colorado

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Chapter 13 Homework Stred 00 Lynch, Inc. is a hardware store operating in Boulder, Colorado Management recently made some poor inventory acquisitions that have loaded the store with unsalable merchandise. Because of the drop in revenues, the company is now insolvent. Following is a trial balance as of March 14, 2017 7.14 points Debit $ Credit se, cee $ 59,90 67,00 eBook Print Accounts payable Accounts receivable Accumulated depreciation, building Accumulated depreciation equipment Additional paid in capital Advertising payable Building Cash Common stock Equipment Inventory Investments Land Note Payable Colorado Savings and Loan (secured by lien en land and building) Note Payable-First National Bank (secured by equipeent) Payroll taxes payable Retained earnings (deficit) Salaries payable (owed equally to two employees) Totals 25,000 21.00 97. 18, 101.00 81, 134,00 32,000 27,000 87.00 184,00 10,000 160,000 22.000 $600,000 $ 600.00 References Assume that the company will be liquidated and the following transactions will occur Accounts receivable of $35,000 are collected with remainder written off . All of the company's inventory is sold for $57.000 Additional accounts payable of $27,000 incurred for various expenses such as utilities and maintenance are discovered The land and building are sold for $105,000. The note payable due to the Colorado Savings and Loan is paid The equipment is sold at auction for only $28,000 with the proceeds applied to the note owed to the First National Bank The investments are sold for $55,000 Administrative expenses total $37,000 as of July 23, 2017, but no payment has yet been made. a. Prepare a statement of realization and liquidation for the period from March 14, 2017 through July 23, 2017 b. How much cash would be paid to an unsecured, nonpriority creditor that Lynch, Inc., owes a total of $9.000? Complete this question by entering your answers in the tabs below. Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate a. Prepare a statement of realization and quidation for the period from March 14, 2017, through July 23, 2017 b. How much cash would be paid to an unsecured, nonpriority creditor that Lynch, Inc., owes a total of $9,000? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a statement of realization and liquidation for the period from March 14, 2017, through July 23, 2017. (Negative amounts should be indicated by a minus sign.) Folly Potti Secured US Blog Blue | Curuditors Lects LYNCHINO Social Liquidation March 2017 Nash Libori Party Book balances, 314/17 0$ 33.000 Accounts receivable collected remaining balance assumed to be uncollectible 35.000 3000) Inventory sold 57 000 Accounts payable discovered Land and buildings all sold 105,000 Fully secured note pald Equipment sold Payment made on partially secured debt Investments sold Administrative expenses accrued Remaining partially secured daims reclassified as unsecured liabilities Final balances remaining for unsecured creditors 0 0 197.000 $ 0 15 0 1$ 0 IS 0 8 Totals $608, cee $ 600,000 Assume that the company will be liquidated and the following transactions will occur 7.14 points Accounts receivable of $35.000 are collected with remainder written off All of the company's inventory is sold for $57.000 Additional accounts payable of $27,000 incurred for various expenses such as utilities and maintenance are discovered . The land and building are sold for $105,000. The note payable due to the Colorado Savings and Loan is paid. The equipment is sold at auction for only $28,000 with the proceeds applied to the note owed to the First National Bank The investments are sold for $55,000 . Administrative expenses total $37,000 as of July 23, 2017, but no payment has yet been made. a. Prepare a statement of realization and liquidation for the period from March 14, 2017, through July 23, 2017 b. How much cash would be paid to an unsecured, nonpriority creditor that Lynch, Inc., owes a total of $9,000? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B How much cash would be paid to an unsecured, nonpriority creditor that Lynch, Inc., owes a total of $9,0007 (Round your percentage claim for unsecured liabilities to the nearest whole percent.) 8 Totals $608, cee $ 600,000 Assume that the company will be liquidated and the following transactions will occur 7.14 points Accounts receivable of $35.000 are collected with remainder written off All of the company's inventory is sold for $57.000 Additional accounts payable of $27,000 incurred for various expenses such as utilities and maintenance are discovered . The land and building are sold for $105,000. The note payable due to the Colorado Savings and Loan is paid. The equipment is sold at auction for only $28,000 with the proceeds applied to the note owed to the First National Bank The investments are sold for $55,000 . Administrative expenses total $37,000 as of July 23, 2017, but no payment has yet been made. a. Prepare a statement of realization and liquidation for the period from March 14, 2017, through July 23, 2017 b. How much cash would be paid to an unsecured, nonpriority creditor that Lynch, Inc., owes a total of $9,000? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B How much cash would be paid to an unsecured, nonpriority creditor that Lynch, Inc., owes a total of $9,0007 (Round your percentage claim for unsecured liabilities to the nearest whole percent.)

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