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?
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- 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?
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- A Company filed a voluntary bankruptcy petition, and the statement of affairs reflected the following amounts: Assets Estimated book value Current value 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 1. Assume that assets are converted to cash at their current values, what is the amount of estimated payment to the partially secured creditors? 2. 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: Assets Estimated book value Current value 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 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?
- Pitch Co. is undergoing liquidation. Infórmation on Pitch Co.. assets and liabilities is shown below: Вook value Realizable value ASSETS 1,000,000 500,000 1,300,000 Assets pledged to fully secured creditors Assets pledged to partially secured creditors 300,000 1,600,000 1,280,000 Free assets 3,100,000 2,880,000 LIABILITIES Unsecured liabilities with priority 400,000 480,000 1,000,000 1,050,000 Fully secured creditors Partially secured creditors Unsecured creditors without priority 650,000 650,000 1,400,000 3,580,000 1,400,000 3,450,000 1. What is the estimated recovery percentage of unsecured creditors without priority? а. 60% b. 75% с. 78% d. 80%Ataway 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 $78,000) Assets (pledged against debts of $146,000) Other assets Liabilities with priority Other unsecured creditors $ 132,000 58,000 88,000 53,200 208,000 In a liquidation, how much money would be paid on the partially secured debt? Payment on partially secured debt $ 82,667When 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 $
- When the Beacon Computer Company filed for bankruptcy under CCAA, it had the following balance sheet information: Liquidating Value Claims Trade credit $ 6,700 Secured mortgage notes 9,900 Senior debentures 11,900 Junior debentures Total assets $30,400 Equity 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 O wherever it is required. Enter the answers in dollars. Omit $ sign in your response.) Trade credit Secured mortgage notes Senior debentures Junior debentures Equity Distribution of liquidating valueKheena 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 Q2. If the assets are converted into cash at the estimated realizable values, what is the ERP for partially secured creditors?
- When the Beacon Computer Company filed for bankruptcy under CCAA, it had the following balance sheet information: Liquidating Value claims Trade credit $ 6,400 Secured mortgage notes 9,600 Senior debentures 11,600 Junior debentures Total assets $30,100 Equity 16,600 -14,100 Assuming there are no legal fees associated with the bankruptcy, as a trustee, what distribution of liquidating value do you propose? (Do not leave any empty spaces; input a O wherever it is required. Omit "$" sign in your response.) Distribution of liquidating value Trade credit Secured mortgage notes Senior debentures Junior debentures Equity $Ataway 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?The unsecured creditors of Club Filipino Corporation filed a petition on July 1, 2021 to force the said corporation into bankruptcy. On December 31, 2021, Club Filipino is now in the process of preparing statement of affairs as mandated by the law. The carrying value and estimated fair values of the assets are as follows: Carrying Value Fair Value Cash P20,000 P20,000 Accounts Receivable 45,000 30,000 Inventory 60,000 35,000 Land 80,000 70,000 Building 150,000 100,000 Equipment 120,000 80,000 TOTAL…