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padilas [110]
2 years ago
10

Wright Company recently petitioned for bankruptcy and is now in the process of preparing a statement of affairs. The carrying va

lues and estimated fair values of the assets of Wright Company are as follows: Carrying Value Fair Value Cash $10,000 $10,000 Accounts Receivable 60,000 30,000 Inventory 70,000 40,000 Land 90,000 75,000 Building (net) 200,000 150,000 Equipment (net) 80,000 25,000 Total $510,000 $330,000 Debts of Wright are as follows: Accounts Payable $40,000 Wages Payable (all have priority) 6,000 Taxes Payable 12,000 Notes Payable (secured by receivables and inventory) 90,000 Interest on Notes Payable 5,000 Bonds Payable (secured by land and buildings) 200,000 Interest on Bonds Payable 8,000 Total $361,000 A) Based on the preceding information, what is the total amount owed to general unsecured creditors
Business
1 answer:
Nady [450]2 years ago
3 0

Answer:

the total amount owed to general unsecured creditors is $71,000

Explanation:

The computation of the total amount owed to general unsecured creditors is shown below:

= Account payable + wages payable + taxes payable + interest on note payable + interest on bond payable

= $40,000 + $6,000 + $12,000 + $5,000 + $8,000

= $71,000

hence, the total amount owed to general unsecured creditors is $71,000

The same is to be considered

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Answer:

option B

Explanation:

On the off chance that an advantage is being built and is being financed totally with a particular new obtaining. Development costs are spread more than two years The aggregate sum of intrigue cost promoted in the subsequent year is dictated by applying the loan cost on the particular new obtaining to the weighted-normal amassed consumption's for the advantage in both of the years.

The correct answer is option B

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a. compelling (interest)

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A court is likely to find that the state’s interest in reducing illegal drug activity, along with the associated criminal activity, is a compelling interest that would justify violating Thomas’s religious freedom because according to law, this is a clear cut method to stop or hindering the prevailing rights which makes discrimination or distinguishing between certain group of people on the base of certain stereotypes existed in that society, which undoubtedly should not be acceptable in any society and in any form.

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3 years ago
Johan was a newly hired attorney for Crontel Manufacturing, Inc. Even though he reported directly to the president of the compan
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According to the information, Johan was beginning to recognize the informal organizational culture at Crontel Manufacturing.

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It corresponds to the way in which organizational methods, regulations and practices are established in organizational routines, that is, in an informal culture, the roles and responsibilities of each position may be opposed to their formal distribution.

Therefore, the informal organization can be developed according to interpersonal relationships and activity patterns, which may or may not be reflected in the company's organizational chart.

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2 years ago
If you buy the bond for $1,000 (ytm = 6%), then the yield increases to 7%, and you sell the bond immediately after the first cou
shusha [124]

If you buy the bond for $1,000 (YTM = 6%), then the yield increases to 7%, and you sell the bond immediately after the first coupon payment (in 1 year), hpr after 1-year

bond price = 60/1.07 +1000/1.07

=990.65

HPR = ((990.65-1000)+60)/1000

=5.06%

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7 0
1 year ago
Barbara Muller Services (BMS) pays its employees monthly. The payroll information listed below is for January 2021, the first mo
Charra [1.4K]

Answer:

The journal entry to record payroll for the January 2013 pay period will include a debit to payroll tax expense of $6,760

Explanation:

In order to calculate The journal entry to record payroll for the January 2013 pay period we would have to calculate the payroll tax expense as follows:

payroll tax expense=Federal unemployment tax rate+(Social security tax rate+medicare tax rate)*Salaries

Federal unemployment tax rate=$80,000*0.80%

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(Social security tax rate+medicare tax rate)*Salaries= (6.2%+ 1.45%)*$80,000

(Social security tax rate+medicare tax rate)*Salaries=$6,120

Therefore, payroll tax expense=$640+$6,120

payroll tax expense=$6,760

The journal entry to record payroll for the January 2013 pay period will include a debit to payroll tax expense of $6,760

3 0
2 years ago
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