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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F55579ff1-387b-4f75-9aff-cce74fba4a71%2F838a260d-2d82-464f-93e7-342729448a85%2F8jg0im_processed.png&w=3840&q=75)
Transcribed Image Text: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
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