Problem 13-41 (Algo) (LO 13-9) Jaez Corporation is in the process of going through a reorganization. As of December 31, 2020, the company's accountant has determined the following information although the company is still several months away from emerging from the bankruptcy proceeding Assets Cash Inventory Land Buildings Equipment Accrued expenses Income taxes payable Book Value $ 48,000 70,000 215,000 245,000 179,000 Fair Value Liabilities as of the date of the order for relief Accounts payable Common stock Deficit $ 48,000 72,000 265,000 Note payable (due 2022) Stockholders' equity Note payable (due 2023, secured by land) Note payable (due 2025) 285,000 182,000 Liabilities since the date of the order for relief Accounts payable JAEZ CORPORATION Allowed Claims $ 148,000 55,000 47,000 125,000 195,000 85,000 135,000 $ 225,000 (258,000) Expected Settlement $ 45,000 29,000 43,000 125,000 105,000 Prepare the balance sheet for Jaez Corporation. (Negative amounts should be indicated by a minus sign.) 4 27

Jaez Corporation is in the process of going through a reorganization, As of December 31,2020 , the company's accountant has determined the following information although the company is stal several months away from emerging from the bankruptcy proceeding Prepare the balance sheet for Jaez Corporation. (Negotive amounts should be indicoted by o minus sign) Jaez Corporation is in the process of going through a reorganization. As of December 31,2020 , the company's accountant has determined the following information although the company is stal several months away from emerging from the bankruptcy procecding Prepare the balance sheet for Jaez Corporation. (Negotive amounts should be indicoted by o minus sign)