PROBLEM 5 following undergoing liquidation: The information are related to STANK Corporation which is A bank loan amounting to P455,000 is secured by inventories with book value of P525,000 and net realizable value of P350,000. secured a. P343,000 P413,000 b. Of the P1,120,000 receivable is by 10% accounts payable, accounts amounting to which is uncollectible. Property and equipment costing P875,000 and which is depreciated by 20% has a net realizable value of P588,000. Other unrecorded liabilities are accrued interest payable on bank loan, P45,500; salaries payable, P112,000; taxes payable, P63,000 and trustee's fee, P52,500. c. d. e. Cash available before liquidation amounts to P87,500. Compute for the estimated deficiency to unsecured creditors. A. 450,800 С. 927,500 882.000 D. 980.000
PROBLEM 5 following undergoing liquidation: The information are related to STANK Corporation which is A bank loan amounting to P455,000 is secured by inventories with book value of P525,000 and net realizable value of P350,000. secured a. P343,000 P413,000 b. Of the P1,120,000 receivable is by 10% accounts payable, accounts amounting to which is uncollectible. Property and equipment costing P875,000 and which is depreciated by 20% has a net realizable value of P588,000. Other unrecorded liabilities are accrued interest payable on bank loan, P45,500; salaries payable, P112,000; taxes payable, P63,000 and trustee's fee, P52,500. c. d. e. Cash available before liquidation amounts to P87,500. Compute for the estimated deficiency to unsecured creditors. A. 450,800 С. 927,500 882.000 D. 980.000
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:PROBLEM 5
following
undergoing liquidation:
The
information
are
related
to
STANK
Corporation
which
is
A bank loan amounting to P455,000 is secured by inventories with
book value of P525,000 and net realizable value of P350,000.
Of
а.
b.
the
P1,120,000
accounts
payable,
P343,000
is
secured
by
accounts
receivable
amounting
to
P413,000
which
is
10%
uncollectible.
Property and equipment costing P875,000 and which is depreciated
by 20% has a net realizable value of P588,000.
Other unrecorded liabilities are accrued interest payable on bank
loan, P45,500; salaries payable, P112,000; taxes payable, P63,000
and trustee's fee, P52,500.
c.
d.
е.
Cash available before liquidation amounts to P87,500.
Compute for the estimated deficiency to unsecured creditors.
450,800
882,000
C.
980,000
А.
927,500
В.
D.
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