The following information pertains to ABC Corp. Inmediately before

liquidation:

It was determined that there were unrecorded accounts payable of

P$25,000.$ Included in the assets of ABC Company was goodwill from a

previous business acquisition anounting to P$150,000.$

The following were estimated to occur during liquidation $($based on net

realizable values of the non$-$cash assets$)$:

P$25,000$ of accounts receivable are expected to be written$-$off. No

allowance for expected credit losses were provided by the entity.

Inventories will be sold at a loss of P$30,000.$

Prepaid expenses of P$5,000$ will be written$-$off because these are non

$-$transferable.

Machinery and equipment will be sold at a loss of P$50,000.$

Land and buildings will be sold at a gain of P$100,000.$

Liquidation and administrative expenses of P$15,000$ will be incurred.

Required:

How much is the estimated estate deficit?Africa company recently flled for banknuptcy. Immediately before hquidation. Africa Co had

the following statement of financial position:

Afnca had the following transactions in relation to its liquidation process:

Sale of inventory amounted to P$300,000.$ P$50,000$ was on account with the remainder on

cash basis. The cost of merchandise sold amounted to P$315,000.$

Collections of receivables, P$115,000.$

Purchase of additional inventory on account, P$15,000.$

Paid suppliers, P$350,000$

Sold its investment at FVPL for P$186,500,$ including accrued interest of P$1500.$

Paid expenses of the trustee, P$75,000.$ Unpaid expenses incurred amounted to P$3,500$

Wrote$-0$ff P$15\mathrm{.}000$ of its accounts receivables

Required

How much is the net loss dunng the liquidation process?