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Zigmanuir [339]
2 years ago
15

In a Chapter 11 bankruptcy, a class of creditors is considered to have accepted the bankruptcy plan when: Group of answer choice

s two-thirds of the class in dollar amount agree. at least 51 percent of the class in number agree. at least 90 percent of the members of the class agree. at least 51 percent of the class in dollar amount and two-thirds of the class in number agree. one-half of the class in number and two-thirds of the class in dollar amount agree.
Business
1 answer:
anygoal [31]2 years ago
7 0

Answer:

In a Chapter 11 bankruptcy, a class of creditors is considered to have accepted the bankruptcy plan when:

one-half of the class in number and two-thirds of the class in dollar amount agree.

Explanation:

In a Chapter 7 bankruptcy, the business assets are liquidated to pay the creditors.  In a Chapter 11 bankruptcy, the business assets are not liquidated.  Instead, the business is refinanced as the assets and debts are reorganized, making it possible for the continued existence of the business.  This is the reason the agreement of the creditors are usually paramount in the decision to undergo a Chapter 11 bankruptcy, unlike a Chapter 7 bankruptcy.

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It is January 2nd. Senior management of Digby meets to determine their investment plan for the year. The current long-term debt
atroni [7]

Answer:

A) Total investment for Digby will be $2,518,806

D) Long term debt will increase from $33,862,062 to $34,888,934

Explanation:

The current Long-term debt is $33,862,062

Digby issues new shares of 50,000 with stock price $20.54.

50,000 shares * $20.45 = $1,027,000

Assets of Digby will rise by,

Assets / Equity = 2.45

Assets / $1,027,000 = 2.45

Assets = 2.45 * $1,027,000

Assets = $2,516,150

6 0
3 years ago
Read 2 more answers
The perfectly competitive firm's short-run supply curve is the Group of answer choices upward-sloping portion of its average tot
allochka39001 [22]

Answer:

Portion of its marginal cost curve that lies above its average variable cost curve.

Explanation:

This is explained to be the portion of its marginal cost curve because marginal gross benefits exceeds marginal cost, the firm can earn greater profits by increasing its output.

These profits are been maximized by choosing to supply the level of output where its marginal revenue equals its marginal cost. When this revenue is below the said marginal cost, money is lost, and consequently, it must reduce its output. Profits are however utilized when the firm chooses the level of output where its marginal revenue equals its marginal cost.

4 0
3 years ago
Johnny’s Drive-in pays its employees bi-weekly. The first payday of 2014 will be on January 3 and will compensate employees for
Sonbull [250]

Answer:

Accounts

Wages Expense

Wages Payable

$100,000

$100,000

Explanation:

As the expense is accrued but not paid at the end of 2013. The transaction requires an adjusting entry. This will charge a wages expense and create the wages payable liability. Ultimately on January 3 it will be paid. Wages for the two weeks are $100,000 and the 14 days has been passed for the pay period until year end of 2013.

5 0
3 years ago
Use the information from the balance sheet and income statement below to calculate the following ratios:
Marina86 [1]

Answer:

a. Current Ratio  = current assets / current liabilities = 190,000 / 153,000 = 1.24

b. Acid-test ratio  = (current assets - inventory) / current liabilities = (190,000 - 50,000) / 153,000 = 0.92

c. Times interest earned  = EBIT / interest expense = 65,000 / 8,000 = 8.13

d. Inventory turnover  = COGS / inventory = 90,000 / 50,000 = 1.8

e. Total asset turnover  = net sales / total assets = 210,000 / 525,000 = 0.4

f. Operating profit margin  = operating income / total sales = 65,000 / 210,000 = 0.31

g. Days in receivables  = (accounts receivables / total sales) x 365 = (30,000 / 210,000) x 365 =  52.14 days

h. Operating return on assets  = operating income / total assets = 65,000 / 525,000 = 0.12

i. Debt ratio  = total liabilities / total assets = 273,000 / 525,000 = 0.52

j. Fixed asset turnover  = total sales / fixed assets = 210,000 / 335,000 = 0.63

k. Return on equity = net income / total equity = 45,030 / 252,000 = 0.18

4 0
2 years ago
1. Answer the below question based upon the following information on Fitbit: Fitbit Year0 Year1 RRF 2% Initial Investment -$5,00
Volgvan

Answer:

$8.53

Explanation:

As per the data given in the question,

Total sales

= 150,000 × $400

= $60,000,000

Variable = $37,500,000

Fixed cost = $1,000,000

Depreciation = $1,500,000

Tax rate = 35% = 0.35

Net Income = (Sales - Variable - Fixed cost - Depreciation) (1 -Tax rate)

= ( $60,000,000 - $37,500,000 - $1,000,000 - $1,500,000)(1 -0.35)

= $13,000,000

Price per share

= Net income ÷ Existing Fit-bit shares

= $13,000,000 ÷ 2,000,000

= $6.5

Total IPO value = Pre-IPO value + Post-IPO value

= [$91,100,000 + (6.5 × 36,500,000)] ÷ ( 2,000,000 + 36,500,000)

= $8.53

We simply applied the above formula

3 0
3 years ago
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