Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer within an hour or very fast, will up

please answer within an hour or very fast, will upvote and give nice comment. Please...

90.2K

Verified Solution

Question

Accounting

imageplease answer within an hour or very fast, will upvote and give nice comment. Please help thank you

Goodluck Company files a voluntary bankruptcy petition, and the settlement of affairs reflected the following amounts: Assets Book Value Est. Current Value Assets pledged with fully secured creditors P 900,000 P 1,110,000 Assets pledged with partially secured creditors 540,000 360,000 Free Assets 1,260,000 960,000 2,700,000 2,430,000 Liabilities Liabilities with priority P 210,000 Fully secured creditors 780,000 Partially secured creditors 600,000 Unsecured creditors (including with priority) 1,620,000 3,210,000 Assume the assets are converted to cash to their estimated current values. What amount of cash will be available to pay unsecured non-priority claims? What amount is the estimated deficiency to unsecured creditors? What is the estimated recovery percentage

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

If a post-ganglionic neuron releases a chemical that binds to a muscarinic receptor, this neuron belongs to...

Medical Sciences
Q

discuss why nutrition and weight status are important for health

Biology
Q

2) Which treatments for major depression do you believe may be the most effective and why?

Psychology
Q

You are the program officer for an outreach program for struggling families. Because of very limited...

Basic Math
Q

LC2 Changes Over The development of antibiotic r Bacteria decide which tra Bacteria cannot reproduc

Biology
Q

Match the testing method to the purpose Agarose gel electrophoresis Choose RFLP Microarray Technology Polyacrylamide...

Biology
Q

9 50 Solve 10 3x x A x 3 B x 2 x 5 C...

Algebra
Q

12 Given two circles whose radii are 10 and 15 the ratio of their areas...

Algebra
Q

#Ethical Responsa. Contrast the philosophies of Act Utilitarianism and Rule Utilitarianism. Which do you feel...

Accounting
Q

Garth purchased merchandise inventory costing $24,000 with credit terms of 2/10, net 30. Eight days...

Accounting
Q

Option contract designated as a cash flow hedge of a forecasted foreign-currency-denominated sales transaction, strengthening...

Accounting
Q

How to calculate Average Cost for COGS and Ending Inventory for Exercise 6-6 in Financial...

Accounting