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How much was the estate deficit at the of November? O 147,000

How much was the estate deficit at the of November? O 147,000

FINANCIAL ACCOUNTING
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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On November 1, 2020, the records of Ms. In G Knee Ring, trustee in bankruptcy for Bill Ding Corporation, showed the following: Cash 57,400 Assets to be realized: Furnitures 70,000 Buildings 301,000 Machinery 196,000 Copyright 30,800 Liabilities to be liquidated Accounts payable 560,000 Notes payable 280,000 Estate Deficit 184,400 During November, Ms In G sold machinery having a book value of 105,000 for 61,600 and sold the copyright for 84,000. Mr. In G was paid 9,100 as trustee fee and 147,000 was distributed proportionately to the creditors. How much was the estate deficit at the of November? O 147,000 O 153.200 O 184,100 130.800
Transcribed Image Text:On November 1, 2020, the records of Ms. In G Knee Ring, trustee in bankruptcy for Bill Ding Corporation, showed the following: Cash 57,400 Assets to be realized: Furnitures 70,000 Buildings 301,000 Machinery 196,000 Copyright 30,800 Liabilities to be liquidated Accounts payable 560,000 Notes payable 280,000 Estate Deficit 184,400 During November, Ms In G sold machinery having a book value of 105,000 for 61,600 and sold the copyright for 84,000. Mr. In G was paid 9,100 as trustee fee and 147,000 was distributed proportionately to the creditors. How much was the estate deficit at the of November? O 147,000 O 153.200 O 184,100 130.800
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