Subject : Advanced Accounting

PROBLEM 16. Statement of Affairs and Deficiency Account LOT Phot Chas filed ukupy petites cas December 31, 20 Tel Cud $ 2.500 Na Race Am Receivable et 76.00 mories Fished Goods Work in Pa Raw Materials 51.000 2.000 Prepaid Expenses 12.000 100.00 Property and get Goodwill 10.000 SRSS 500 A Payable $220.000 Accrund Wages (all with priority 15.00 Rank Notes Payable 225.000 Mortgage Payable 150.000 Com Stack 30.000 Retained in deficit) (161 T SRSR. SO The following ukital information is available 1. All its receivable with the exception of one for $2.500 are expected to be collected. The et tecevable are pledged as security on the buses payable 2. Of the total receivable 555.000 is expected the collected. The accounts We are pledged as security on the hankits payable 3. Finished goods can be sold hovecot Selling experies will be made 155 of selling price. Work in process is to be conged at an additional of So, which 519.00 represents the cost of raw materials. The expected selling price of the work in pas her completion is 10% where cent with selling expenses of 15 of selling price Uued raw materials can be fo SIR DOO 4. Prepaid expenses are fully rebe The investment in cost of 100 shares of MB Company with a cure market value of 519.00 & Land is appraised $200.00, und plans and equipment is appraised $5.000. The land and plans and equip - collateral on the mele Acerunder coded interest on the mape payable to Required A present offis, including deficiency 1. Compute the estimated dividend to be a generale PROBLEM 16. Statement of Affairs and Deficiency Account LOT Phot Chas filed ukupy petites cas December 31, 20 Tel Cud $ 2.500 Na Race Am Receivable et 76.00 mories Fished Goods Work in Pa Raw Materials 51.000 2.000 Prepaid Expenses 12.000 100.00 Property and get Goodwill 10.000 SRSS 500 A Payable $220.000 Accrund Wages (all with priority 15.00 Rank Notes Payable 225.000 Mortgage Payable 150.000 Com Stack 30.000 Retained in deficit) (161 T SRSR. SO The following ukital information is available 1. All its receivable with the exception of one for $2.500 are expected to be collected. The et tecevable are pledged as security on the buses payable 2. Of the total receivable 555.000 is expected the collected. The accounts We are pledged as security on the hankits payable 3. Finished goods can be sold hovecot Selling experies will be made 155 of selling price. Work in process is to be conged at an additional of So, which 519.00 represents the cost of raw materials. The expected selling price of the work in pas her completion is 10% where cent with selling expenses of 15 of selling price Uued raw materials can be fo SIR DOO 4. Prepaid expenses are fully rebe The investment in cost of 100 shares of MB Company with a cure market value of 519.00 & Land is appraised $200.00, und plans and equipment is appraised $5.000. The land and plans and equip - collateral on the mele Acerunder coded interest on the mape payable to Required A present offis, including deficiency 1. Compute the estimated dividend to be a generale