Question

Of the salaries payable, $30,000 was owed to an officer of the company. The remaining amount was owed to salaried employees who had not been paid within the previous 80 days: John Webb was owed $10,600, Samantha Jones was owed $15,000, Sandra Johnson was owed $11,900, and Dennis Roberts was owed $2,500. The maximum owed for any one employee's claims for contributions to benefit plans was $800. Estimated expense for administering the liquidation amounted to $40,000. What amount would the company have expected to pay for every dollar of unsecured liability without priority? $.50. $.40. $.75. $.30. $.60.

Answer 1

Answer:

$167,475 is the total amount

Explanation:

Solution: Pension $10,000 + Salaries $37,475 (= $10,600 + $12,475 + $11,900 + $2,500) + Taxes $80,000 + Liquidation expenses $40,000 = $167,475.

Employee claims for contributions to benefit plans earned more than 180 days preceding the filing of a . petition, limited to $12,475 per individual.