Ataway Company has severe financial difficulties and is considering filing a bankruptcy petition. At this time, it has the following assets and liabilities. The assets are stated at net realizable value. Assets (pledged against debts of $76,000) $128,000 Assets (pledged against debts of $142,000) 56,000 Other assets Liabilities with priority Other unsecured creditors 86,000 65,000 206,000 In a liquidation, how much money would be paid on the partially secured debt?
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- Ataway Company has severe financial difficulties and is considering filing a bankruptcy petition. At this time, it has the following assets and liabilities. The assets are stated at net realizable value. Assets (pledged against debts of $76,000) $128,000 Assets (pledged against debts of $142,000) 56,000 Other assets Liabilities with priority Other unsecured creditors 86,000 65,000 206,000 In a liquidation, how much money would be paid on the partially secured debt?The Sunshine Company has the following data in connection with its bankruptcy petition with the Securities and Exchange Commission at the end of 2018. Unsecured creditorsP287.500. Liabilities with priority137,500 Secured Liabilities Debt 1, P262,500; value of pledged asset 225,000 Debt 2, P212,500, value of pledged asset 125,000 Debt 3, P150,000, value of pledged asset 175,000' The company also has a number of other assets that are not pledge in any way, The creditors holding Debt 2 want to receive at least P177,50 Required: For how much do these free assets have to be sold so that Debt 2 would receive exactly P177,500. Show your solutionAtaway Company has suffered severe financial difficulties and is considering filing a bankruptcy petition. It has the following assets and liabilities. The assets are stated at net realizable value. Assets (pledged against debts of $74,000) $ 124,000 Assets (pledged against debts of $138,000) 54,000 Other assets 84,000 Liabilities with priority 76,400 Other unsecured creditors 204,000 In a liquidation, how much money would be paid on the partially secured debt?
- Your Question : Please introduction and correct and incorrect option explain!Kent Co. filed a voluntary bankruptcy petition on August 15, 2008, and the statement of affairs reflects the following amounts: Assets Book value Estimated Market value Pledged with fully secured creditors P300,000 P370,000 Pledged with partially secured creditors 180,000 120,000 Free Assets 420,000 320,000 Liabilities With priority 70,000 Fully secured 260,000 Partially secured 200,000 Unsecured 540,000 What amount of cash will be available for unsecured creditors?WANTED Corporation filed bankruptcy on July 1, 2011 and some of the infomation below were taken from its statement of affairs. Estimated Realizable Value P300, 000 Book Value Assets: Assets pledge with fully secured creditors Assets pledge with partially secured creditors P250, 000 180, 000 120, 000 Liabilities: Fully secured creditors Partially secured creditors Unsecured creditors with priority P280, 000 200, 000 100, 000 Unsecured creditors 400, 000 6. Assumed that the assets are converted to cash at the estimated realizable values, what is the total estimated realizable value of the free assets if the partially secured creditors received P176, 000? A. P436, 000 в. Р316, 000 c. P336, 000 D. P416, 000
- ENRON Company filed a voluntary bankruptcy petition on July 1, 2011 and the statement of affairs reflects the following amounts: BOOK ESTIMATED CARRYING CURRENT VALUE P185, 000 60, 000 160. 000 P 405. 000 VALUE Assets pledge with fully secure creditors Assets pledge with partially secured creditors Free Assets P150, 000 90, 000 Liability with priority Fully secured creditors Partially secured creditors Unsecured creditors 210, 000 P 450. 000 Liabilities P35, 000 130, 000 90, 000 270, 000 P 525, 000 3. Determine the amount to be received by partially secured creditors. В. Р78, 000 A. P90, 000 C. P60, 000 D. P72, 000Ataway Company has severe financial difficulties and is considering filing a bankruptcy petition. At this time, it has the following assets and liabilities. The assets are stated at net realizable value. Assets (pledged against debts of $70,000) . . . . . . . . . . . . . . . . $116,000Assets (pledged against debts of $130,000) . . . . . . . . . . . . . . . . . 50,000Other assets . . . . . . . . . . . . . . . 80,000Liabilities with priority . . . . . . . 42,000Other unsecured creditors . . . 200,000 In a liquidation, how much money would be paid on the partially secured debt?A Company filed a voluntary bankruptcy petition, and the statement of affairs reflected the following amounts: Estimated book value Current value Assets Assets pledged with fully secured creditors P 800,000 P1,000,000 Assets pledged with partially secured creditors 500,000 400,000 Free assets 1,300,000 1,200,000 Liabilities are as follows: Liabilities with priority - P200,000 Fully secured creditors - 700,000 Partially secured creditors - 500,000 Unsecured creditors without priority - 1,500,000 Assume that assets are converted to cash at their current values, what is the expected dividend rate (in decimal form) for general unsecured creditors?
- A Company filed a voluntary bankruptcy petition, and the statement of affairs reflected the following amounts: Estimated book value Current value Assets P1,000,000 Assets pledged with fully secured creditors Assets pledged with partially secured creditors P 800,000 500,000 400,000 Free assets 1,300,000 1,200,000 Liabilities are as follows: Liabilities with priority - P200,000 Fully secured creditors - 700,000 Partially secured creditors - 500,000 Unsecured creditors without priority - 1,500,000 Assume that assets are converted to cash at their current values, what is the amount of estimated payment to the partially secured creditors?When the Beacon Computer Company filed for bankruptcy under CCAA, it had the following balance sheet information: Liquidating Value Total assets $30,400 Equity Claims Trade credit Secured mortgage notes Senior debentures Junior debentures Trade credit Secured mortgage notes Senior debentures Junior debentures Equity $ 6,700 9,900 11,900 16,900 -15,000 Assuming there are no legal fees associated with the bankruptcy, as a trustee, what distribution of liquidating value do you propose? (Do not leave any empty spaces; input a 0 wherever it is required. Enter the answers in dollars. Omit $ sign in your response.) Distribution of liquidating value $ABC Co. is undergoing liquidation. Information on ABC Co.'s assets and liabilities is shown below: ASSETS Book value Realizable value Assets pledged to fully secured creditors Assets pledged to partially secured creditors 360,000 480,000 208,000 192,000 Free assets 600,000 576,000 1,168,000 1,248,000 LIABILITIES Unsecured liabilities with priority Fully secured creditors Partially secured creditors Unsecured creditors without priority 288,000 288,000 384,000 240,000 432,000 384,000 240,000 432,000 1,344,000 1,344,000 How much can the partially secured creditors expect to recover from their claims?
