4. DDD Company provides the following balance sheet as of December 31, 2020: Current Assets (NRV of P2,500,000) PPE (NRV of P4,500,000) Other Assets (NRV P200,000) Total 3,000,000 7,500,000 650,000 11,150,000 Accounts Payable (secured by Inventories with NRV of P1,600,000) Loans Payable (secured by PPE with NRV of P2,800,000) Ordinary Shares Retained Earnings (Deficit) Total 4,500,000 5,000,000 2,500,000 (850,000) 11,150,000 Determine the following: a. Amount available to Unsecured Creditors b. Estimated Deficiency c. Amount expected to be received by Accounts Payable Creditors

4. DDD Company provides the following balance sheet as of December 31, 2020: Current Assets (NRV of P2,500,000) PPE (NRV of P4,500,000) Other Assets (NRV P200,000) Total 3,000,000 7,500,000 650,000 11,150,000 Accounts Payable (secured by Inventories with NRV of P1,600,000) Loans Payable (secured by PPE with NRV of P2,800,000) Ordinary Shares Retained Earnings (Deficit) Total 4,500,000 5,000,000 2,500,000 (850,000) 11,150,000 Determine the following: a. Amount available to Unsecured Creditors b. Estimated Deficiency c. Amount expected to be received by Accounts Payable Creditors

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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