Question
The Waiston company is to be liquidated and has the folliwn liabilities Income taxes $ 15,400 Notes payable (secured by Land) $ 124,000 accounts payable
The Waiston company is to be liquidated and has the folliwn liabilities
Income taxes $ 15,400
Notes payable (secured by Land) $ 124,000
accounts payable $ 87,000
Salaireis payable (evenly divided between tow employees) $ 6,000
bonds payable $ 72,00
Administrative expense for liquidation $ 22,000
The Copany has the following assets
Book Value Fair Value
current assests $ 82,000 $ 37,000
Land $102,000 $ 92,000
Building and equipment $102,000 $121,000
How much mone will the holders of the notes payable collect following liquidations?
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Managerial Accounting For Clarion University Of Pennsylvania
Authors: Ray H. Garrison
14th Edition
0077577515, 978-0077577513
