Alpha Corporation, about to be liquidated, has the following amounts for its assets and liabilities:   Book Value Net Realizable Value Current assets $ 225,000 $ 180,000 Land 80,000 100,000 Building 560,000 450,000 Equipment 250,000 120,000 Accounts payable 200,000   Income taxes payable 80,000   Mortgage payable 600,000   Note payable 75,000   The mortgage is secured by the land and building, and the note payable is secured by the equipment. Alpha expects that the expenses of administering the liquidation will total $45,000. Required: How much should Alpha expect to pay on the accounts payable?

Mondesto Company has the following debts: The company also has a number of other assets that are not pledged in any way. The creditors holding Debt 2 want to receive at least $142,000. For how much do these free assets have to be sold so that the creditors associated with Debt 2 will receive exactly $142,000?

The following information is for Swifty Real Estate: SwiftyReal EstateBalance SheetDecember 31, 2020 Cash   $  25500   Accounts Payable     $  60500 Prepaid Insurance   29700   Salaries and Wages Payable     15100 Accounts Receivable   50600   Mortgage Payable     84500 Inventory   68600         Total Liabilities     160100 Land Held for Investment   83500           Land   120600           Buildings $98100                   Less Accumulated            Depreciation       Owner's Capital     366400 (19600) 78500           Trademark   69500         Total Liabilities and         Owner’s Equity       Total Assets   $526500       $526500 The total dollar amount of liabilities to be classified as current liabilities is $160100. $15100. $60500. $75600.

The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets,none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.Balance Sheet (Millions of $) 2021AssetsCash and securities $ 4,200 Accounts receivable 17,500 Inventories 20,300 Total current assets $ 42,000 Net plant and equipment 28,000 Total assets $ 70,000 Liabilities and EquityAccounts payable $ 27,531 Accruals 12,369 Notes payable 5,000 Total current liabilities $ 44,900 Long-term bonds 9,000 Total liabilities $ 53,900 Common stock 3,864 Retained earnings 12,236 Total common equity $ 16,100 Total liabilities and equity $ 70,000 Income Statement (Millions of $) 2021Net sales $112,000 Operating costs except depreciation 104,160 Depreciation 2,240 Earnings before interest and taxes (EBIT) $ 5,600 Less interest 840 Earnings before taxes (EBT) $ 4,760 Taxes (25%) 1,190 Net income $ 3,570 Other data:…

The following selected account balances were taken from the balance sheet of Quitting Corp. as of December 31, 2020, immediately before the take over of the trustee: Marketable securities  P300,000 Inventories           110,000 Land                150,000 Building             400,000   Additional information: • Marketable securities have present market value of P320,000. These securities have been pledged to secure notes payable of P280,000. • The estimated worth of inventories is P70,000. However, inventories with book value of P50,000 have been pledged to secure notes payable of P60,000. The realizable value of the inventories pledged is estimated to be P40,000. • Land and building are estimated to have a total realizable value of P450,000. This property is pledged to secure the mortgage payable of P250,000.   What is the estimated amount available for preferred claims and unsecured creditors out of the assets pledged with fully secured creditors?a. P240,000b. P840,000c. P770,000

The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.   Balance Sheet (Millions of $) 2021 Assets   Cash and securities   $ 4,200   Accounts receivable     17,500   Inventories     20,300   Total current assets   $ 42,000   Net plant and equipment     28,000   Total assets   $ 70,000     Liabilities and Equity   Accounts payable   $ 27,531   Accruals     12,369   Notes payable     5,000   Total current liabilities   $ 44,900   Long-term bonds     9,000   Total liabilities   $ 53,900   Common stock     3,864   Retained earnings     12,236   Total common equity   $ 16,100   Total liabilities and equity   $ 70,000     Income Statement (Millions of $) 2021 Net sales   $ 112,000   Operating costs except depreciation     104,160   Depreciation…

The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.   Balance Sheet (Millions of $) 2021 Assets   Cash and securities   $ 4,200   Accounts receivable     17,500   Inventories     20,300   Total current assets   $ 42,000   Net plant and equipment     28,000   Total assets   $ 70,000     Liabilities and Equity   Accounts payable   $ 27,531   Accruals     12,369   Notes payable     5,000   Total current liabilities   $ 44,900   Long-term bonds     9,000   Total liabilities   $ 53,900   Common stock     3,864   Retained earnings     12,236   Total common equity   $ 16,100   Total liabilities and equity   $ 70,000     Income Statement (Millions of $) 2021 Net sales   $ 112,000   Operating costs except depreciation     104,160   Depreciation…

The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.   Balance Sheet (Millions of $) 2021 Assets   Cash and securities   $ 4,200   Accounts receivable     17,500   Inventories     20,300   Total current assets   $ 42,000   Net plant and equipment     28,000   Total assets   $ 70,000     Liabilities and Equity   Accounts payable   $ 27,531   Accruals     12,369   Notes payable     5,000   Total current liabilities   $ 44,900   Long-term bonds     9,000   Total liabilities   $ 53,900   Common stock     3,864   Retained earnings     12,236   Total common equity   $ 16,100   Total liabilities and equity   $ 70,000     Income Statement (Millions of $) 2021 Net sales   $ 112,000   Operating costs except depreciation     104,160   Depreciation…

The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.   Balance Sheet (Millions of $) 2021 Assets   Cash and securities   $ 4,200   Accounts receivable     17,500   Inventories     20,300   Total current assets   $ 42,000   Net plant and equipment     28,000   Total assets   $ 70,000     Liabilities and Equity   Accounts payable   $ 27,531   Accruals     12,369   Notes payable     5,000   Total current liabilities   $ 44,900   Long-term bonds     9,000   Total liabilities   $ 53,900   Common stock     3,864   Retained earnings     12,236   Total common equity   $ 16,100   Total liabilities and equity   $ 70,000     Income Statement (Millions of $) 2021 Net sales   $ 112,000   Operating costs except depreciation     104,160   Depreciation…

The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.   Balance Sheet (Millions of $) 2021 Assets   Cash and securities   $ 4,200   Accounts receivable     17,500   Inventories     20,300   Total current assets   $ 42,000   Net plant and equipment     28,000   Total assets   $ 70,000     Liabilities and Equity   Accounts payable   $ 27,531   Accruals     12,369   Notes payable     5,000   Total current liabilities   $ 44,900   Long-term bonds     9,000   Total liabilities   $ 53,900   Common stock     3,864   Retained earnings     12,236   Total common equity   $ 16,100   Total liabilities and equity   $ 70,000     Income Statement (Millions of $) 2021 Net sales   $ 112,000   Operating costs except depreciation     104,160   Depreciation…