47 ABC Corporation has become insolvent and a statement of affairs is being prepared. The following data are given. Market value of assets pledged with fully secured creditors 150,000 Fully secured creditors 50,000 Market value of assets pledged with partly secured creditors 90,000 Partly secured creditors 150,000 Creditors with priority 46,000 Unsecured creditors 80,000 Free assets 76,000 How much is the estimated amount available?
47 ABC Corporation has become insolvent and a statement of affairs is being prepared. The following data are given. Market value of assets pledged with fully secured creditors 150,000 Fully secured creditors 50,000 Market value of assets pledged with partly secured creditors 90,000 Partly secured creditors 150,000 Creditors with priority 46,000 Unsecured creditors 80,000 Free assets 76,000 How much is the estimated amount available?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
47
ABC Corporation has become insolvent and a statement of affairs is being prepared. The following data are given.
|
Market value of assets pledged with fully secured creditors |
150,000 |
|
Fully secured creditors |
50,000 |
|
Market value of assets pledged with partly secured creditors |
90,000 |
|
Partly secured creditors |
150,000 |
|
Creditors with priority |
46,000 |
|
Unsecured creditors |
80,000 |
|
Free assets |
76,000 |
How much is the estimated amount available?
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