1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Andrew [12]
3 years ago
8

A company enters Chapter 7 bankruptcy proceedings. Its balance sheet, prepared using GAAP for a company with continuing operatio

ns, is as follows: Cash $ 15,000 Accounts payable $ 90,000 Inventories 100,000 Loans payable 300,000 Plant and equipment, net 250,000 Equity (deficit) (25,000) Total $365,000 Total $365,000 2. The plant and equipment is security for one of the loans, with a balance of $130,000. The other liabilities are unsecured. The following transactions occur: * Inventories with a book value of $60,000 were sold for $40,000. * The plant and equipment was sold for $200,000. The loan secured by the plant and equipment was paid. * Wages and administrative expenses of $10,000 were accrued. * An initial payment of 40 cents per dollar of indebtedness was paid to the unsecured creditors. 3. The statement of realization and liquidation reports total "assets not realized" of:________.
A. $ 40,000
B. $ 60,000
C. $ 61,000
D. $150,000
Business
1 answer:
Andrej [43]3 years ago
5 0

Answer:

A) $ 40,000

Explanation:

Cash $ 15,000

Inventories $100,000

Plant and equipment, net $250,000

total assets $365,000

Accounts payable $ 90,000

Loans payable $300,000

Equity (deficit) ($25,000)

total liabilities and equity $365,000

Assets not realized would be assets that are left over and haven't been sold  yet (or converted to cash) by the trustee

  • inventories = $100,000 total - $60,000 realized = <u>$40,000 not realized</u>
  • plant and equipment was all sold
  • cash doesn't have to be realized
You might be interested in
Peggy is in the business of factoring accounts receivable. Last year, she purchased a $30,000 account receivable for $25,000. Th
N76 [4]

Answer:

e. None of these.

3 0
2 years ago
Our society is increasingly becoming more diverse. Discuss how this affects you as an individual, an organization, and society a
Mekhanik [1.2K]

Answer

Hello,

Well, a diverse society is stable and alive with positive dynamics, easy to adapt to changes and always geared towards a positive evolutionary.

As an individual, a diverse society offers greater opportunity for personal and professional growth.

In the society, diverse cultural views can inspire creativity and innovation. A diverse society has a pool of diverse skills base which allows an organization to produce broader and more adaptable range of goods and services.

A challenge in this is that integration across multicultural groups can be difficult due to negative cultural stereotypes. Some countries require navigating visa and application of employment laws that could be challenging requirements.

Diversity quotas in colleges can be outlawed but still allow colleges to consider race in admitting students.

Wish you luck!

5 0
3 years ago
In building a sustainable organization, management should strive to make the organization sustainable in three areas ? ________.
DochEvi [55]
The three areas are; "the economy, the environment, and society".

Sustainability organizations are composed of groups of individuals that plan to propel sustainability or potentially those activities of sorting out something economically. Dissimilar to numerous business associations, sustainability associations are not restricted to actualizing sustainability methodologies which furnish them with financial and social advantages accomplished through ecological duty. For these associations or organizations, sustainability can likewise be an end in itself without additional explanations.
5 0
3 years ago
Read 2 more answers
Suppose you purchase from a supplier at $4 per unit a part with which you assemble red widgets. on average, you use 50,000 units
joja [24]

The problem is missing some parts:

First, how many parts should you purchase each time you place an order.

H=.2*$4 = $0.80

S= $800

R = 50,000

 

Q = 2SRH

= 2(800) (50000) (.8)

= 10,000 units

 

The second question is how many timer per year will you place orders.

Required order = R/Q

= 50000/10000

= 5 times

4 0
3 years ago
Select all parts that should be included in a resume.
Lady_Fox [76]

Answer:

Objective , contact information, work experience, education and training, education and training, name.

4 0
3 years ago
Other questions:
  • Decision Point: Your Second Meeting: Furniture Assembling of wooden table with screwdriver Your next client is a retailer of rea
    8·1 answer
  • A useful technique that enables managers to examine the relationships among cost, price, revenue, and profit over different leve
    7·1 answer
  • Gordon Jones is considering purchasing a computer from Best Buy. He has created a scale for rating eight different computers on
    9·1 answer
  • Once a​ month, the bureau of​ ______ statistics calculates the consumer price​ index, which is a measure of the​ ______ consumer
    8·1 answer
  • Bank reconciliations are normally prepared on a monthly basis to identify adjustments needed in the depositor's records and to i
    14·1 answer
  • The balance sheet of Indian River Electronics Corporation as of December 31, 2017, included 12.25% bonds having a face amount of
    7·1 answer
  • You go on vacation to Mexico and take $1,000 with you. During your time in Mexico, the peso appreciates in value relative to the
    14·2 answers
  • This year Randy paid $29,800 of interest on his residence. (Randy borrowed $474,000 to buy his residence, and it is currently wo
    11·1 answer
  • Discounted cash flow methods consider the present value of the cash flows after the recovery of the initial investment. quizlet
    14·1 answer
  • Under perfect competition, any profit-maximizing producer faces a market price equal to its?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!