The following were taken from the statement of affairs of DUTCHMEN Corp: Assets pledged for fully secured creditors (estimated market value P150,000) P180,000 Assets pledged for partially secured creditors (estimated market value P104,000) 148,000 Free Assets (estimated market value 80,000) 14,000 Partially secured creditors 120,000 Fully secured creditors 60,000 Unsecured creditors withour priority 224,000 The free assets were those assets other than the assets pledged to fully and partially secured creditors. The Unsecured creditors without priority were those creditors with no assets secured to them from the start of liquidation. What is the amount of net free assets?
The following were taken from the statement of affairs of DUTCHMEN Corp:
Assets pledged for fully secured creditors (estimated market value P150,000) P180,000
Assets pledged for partially secured creditors (estimated market value P104,000) 148,000
Free Assets (estimated market value 80,000) 14,000
Partially secured creditors 120,000
Fully secured creditors 60,000
Unsecured creditors withour priority 224,000
The free assets were those assets other than the assets pledged to fully and partially secured creditors. The Unsecured creditors without priority were those creditors with no assets secured to them from the start of liquidation.
What is the amount of net free assets?
a. 66,000
b. 156,000
c. 186,000
d. 216,000
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