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Verizon [17]
3 years ago
13

Sparkman Co. filed a bankruptcy petition and liquidated its noncash assets. Sparkman was paying forty cents on the dollar for un

secured claims. Bailey Co. held a mortgage of $150,000 on Sparkman’s land which was sold for $110,000. The total amount of payment that Bailey should have received is calculated to be
Business
1 answer:
Alecsey [184]3 years ago
8 0

Answer:

At least the 110,000

The deficiency will be based on jurisdictions and the state at which the bankruptcy occur.

Explanation:

Baily will receive the 110,000 as the mortgage collateral was the real state. Once it was sold, Baley received the 110,000.

Sparkman offer is for unsecured claims, the mortage is secured, as the mortage is secured through mortgage origination.

Once Sparkman filed bankruptcy, the lender which is Bailey executed foreclosure to take ownership of the property and sell it to pay off the loan.

After foreclosure, Mailey has little to no resources for the remaining debt.

It will depend heavily on jurisdictions if Baily can force Sparkman to pay the 40,000 remaining.

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The economy is in long-run equilibrium. Technological change shifts the long-run aggregate supply curve $120 billion to the righ
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Answer:

C. Real GDP would be higher but the price level would be the same

Explanation:

Real gdp would get to be higher as long run aggregate supply goes up. Prices would go down because as long run aggregate supply goes up, aggregate demand does not experience the same proportional increase. As long run aggregate supply goes up, short run aggregate supply falls backwards.

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3 years ago
EB11.
Zarrin [17]

Answer:

Q. Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?

February 2018 $90,000, March 2018 92,000, April 2018 101,000, May 2018 98,000, June 2018 99,500.

Answer) $440,775

Explanation:

Cash payments to be made in 2018 for the purchases given in question are:

                              Feb 2018        Mar 2018   Apr 2018   May 2018  June 2018

Cash Payments

65% of $90,000   58,500            

30% of $90,000                           27,000

5%  of $90,000                                               4,500

65% of $92,000                           59,800

30% of $92,000                                             27,600

5%  of $92,000                                                                 4,600

65% of $101,000                                             65,650

30% of $101,000                                                              30,300

5%  of $101,000                                                                                      5,050

65% of $98,000                                                               63,700

30% of $98,000                                                                                      29,400

65% of $99,500                                                                                      64,675

Total                       $58,500     $86,800   $97,750     $98,600          $99,125

Total payments in 2018=$440,775

(58,500+86,800+97,750+98,600+99,125)

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