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Gnesinka [82]
3 years ago
5

Knox operates an electronics store as sole proprietor. On April 5, Knox was involuntarily petitioned into bankruptcy under the l

iquidation provisions of the Bankruptcy Code. On April 20, a trustee in bankruptcy was appointed and an order for relief was entered. Knox's nonexempt property has been converted to cash, which is available to satisfy the following claims and expenses as may be appropriate:
Claims and Expenses

Claim by Dart Corp. (one of Knox's suppliers) for computers ordered on April 5, and delivered on credit to Knox on April 10. $20,000

Fee earned by the bankruptcy trustee. $ 15,000

Claim by Boyd for deposit given to Knox on April I, for computer Boyd purchased for personal use but that had not yet been received by Boyd. $ 1,500

Claim by Noll Co. for the delivery of stereos to Knox on credit. The stereos were delivered on April 4, and a financing statement was properly filed on April 5. These stereos were sold by the trustee with Noll's consent for $7,500, their fair market value. $ 5,000

Fees earned by the attorneys for the bankruptcy estate. $ 10,000

Claims by unsecured general creditors $ 1,000 The cash available for distribution includes the proceeds from the sale of the stereos.

What amount will be distributed to Boyd if the cash available for distribution is $50,800?
Business
1 answer:
Xelga [282]3 years ago
6 0

Answer:

$800

Explanation:

Since $50,800 are available for distribution, the payments will start with the trustee, the lawyers and the suppliers:

  • trustee will receive $15,000
  • lawyers will receive $10,000
  • Dart will receive $20,000
  • <u>Noll will receive $5,000    </u>
  • total $50,000

After the suppliers, lawyers and trustee are paid, only $800 are left and they will be given to Boyd. The creditors with unsecured claims will get $0.

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Over the past several years, like other auto manufacturers, General Motors (GM) has introduced many new models of sport utility
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Answer:

D. Market maturity

Explanation:

Over the past several years, like other auto manufacturers, General Motors (GM) has introduced many new models of sport utility vehicles (SUVs) in all of its major divisions. This proliferation of SUVs and an increase in gasoline prices have caused sales to level off. In response, General Motors offered rebates of up to $5,000, or no-interest financing, on selected models of SUVs. The largest rebates went to current owners of GM vehicles, so that they would replace their current vehicles with a GM model instead of switching to another brand. The rebates have been heavily advertised on national television. Profit margins per vehicle have shrunk as a result of these costly promotions.

General Motors is currently operating in the Market maturity stage of production life cycle.

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3 years ago
The fed currently focuses monetary policy on the
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The fed currently focuses monetary policy on the ; Federal funds rate
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3 years ago
An $11,000 mortgage has a 30-year term (requiring monthly payments) and a 6% nominal interest rate. (a) What is the monthly paym
neonofarm [45]

Answer:

Answer:

a) Monthly payment = $65.95

b) Remaining balance on her loan after making 12th payment = 11,000 - (65.95 x 12) = $10208.6

c) Interest paid in month 13 = 10208.6 * 0.5% = $51.043

  Principal paid in month 13 = $65.95 - 51.043 = $14.907

Explanation:

Using financial calculator:

PV = 11,000

n = 30 years = 360 months

i/r = 6%/year = 0.5% / month

FV = 0

PMT = ? (Monthly payment = ?)

a) Monthly payment = $65.95

b) Remaining balance on her loan after making 12th payment = 11,000 - (65.95 x 12) = $10208.6

c) Interest paid in month 13 = 10208.6 * 0.5% = $51.043

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Explanation:

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What is the relashionship between reserve ratio and interest rate spread​
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Explanation:

hope it helps you

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2 years ago
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makvit [3.9K]

The total manufacturing cost for one teddy bear is $8.

<h3> Total manufacturing cost</h3>

Total manufacturing cost for one teddy bear:

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Therefore the total manufacturing cost for one teddy bear will be $8.

Learn more about  total manufacturing cost here:brainly.com/question/13767214

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