Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of affairs reflects the following amounts: Assets pledged with fully secured creditors has a book value of P160,000 while the estimate( realizable value amounted to P190,000. Assets pledged with partially secured creditors has estimated realizable value of P60,000 with book value of P90,000. But the free assets amounted to P140,000 and P200,00 for the realizable and book value, respectively. Liabilities were as follows: Liabilities with priority 20,000 Fully Secured creditors 130,000 Partially secured creditors 100,000 Unsecured creditors 260,000 Q1. What is the estimated Recovery Percentage for Unsecured Creditors without Priority?
Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of affairs reflects the following amounts: Assets pledged with fully secured creditors has a book value of P160,000 while the estimate( realizable value amounted to P190,000. Assets pledged with partially secured creditors has estimated realizable value of P60,000 with book value of P90,000. But the free assets amounted to P140,000 and P200,00 for the realizable and book value, respectively. Liabilities were as follows: Liabilities with priority 20,000 Fully Secured creditors 130,000 Partially secured creditors 100,000 Unsecured creditors 260,000 Q1. What is the estimated Recovery Percentage for Unsecured Creditors without Priority?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of affairs reflects the following amounts:
Assets pledged with fully secured creditors has a book value of P160,000 while the estimate( realizable value amounted to P190,000. Assets pledged with partially secured creditors has estimated realizable value of P60,000 with book value of P90,000. But the free assets amounted to P140,000 and P200,00 for the realizable and book value, respectively. Liabilities were as follows:
Liabilities with priority 20,000 Fully Secured creditors 130,000 Partially secured creditors 100,000 Unsecured creditors 260,000
Q1. What is the estimated Recovery Percentage for Unsecured Creditors without Priority?
Transcribed Image Text:Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of
affairs reflects the following amounts:
19X62 AS
Assets pledged with fully secured creditors has a book value of P160,000 while the estimatec
realizable value amounted to P190,000. Assets pledged with partially secured creditors has
estimated realizable value of P60,000 with book value of P90,000. But the free assets
amounted to P140,000 and P200,00 for the realizable and book value, respectively.
Liabilities were as follows:
OL25
Liabilities with priority
Fully Secured creditors
are Partially secured creditors
Unsecured creditors
0611
226025
20,000
130,000
100,000
ou you 260,000 26chteg på 1900 sud
jue vicipe
OU SU
$512 BOCALGO DA AGUOLA SUQ SCCORU
Q1 What is the estimated Recovery Percentage for Unsecured Creditors without Priority?
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