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Zigmanuir [339]
3 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]3 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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You buy an annuity which will pay you $12,000 a year for ten years. The payments are paid on the first day of each year. What is
Kruka [31]

Answer:

PV of annuity due = $90,182.8 (Approx.)

Explanation:

Given:

Payment per year = $12,000

Number of year = 10

Interest rate = 7% = 0.07

Find:

PV of annuity due

Computation:

PV of annuity due = P + P[{1-(1+r)⁻⁽ⁿ⁻¹)/r]

PV of annuity due = 12,000 + 12,000[{1-(1+0.07)⁻⁽¹⁰⁻¹)/0.07]

PV of annuity due = $90,182.8 (Approx.)

7 0
2 years ago
Which of the following illustrates Forward Vertical Integration? a. Subway sandwich company buying a bakery to make the bread fo
Shalnov [3]

Answer:

a

Explanation:

Vertical integration is when a firm acquires a business further in its production chain. For example, a sandwich company purchasing a bakery

4 0
3 years ago
Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: M N O Unit sal
Xelga [282]

Answer:

Madison Corporation

The contribution margin per composite unit for the current sales mix is:

= $26.

Explanation:

a) Data and Calculations:

Products                    M            N            O

Current sales mix      3             1             2

Unit sales price      $16         $11          $13

Unit variable costs   10            9            10

Unit contribution    $6          $2           $3

Contribution margin per

composite unit    $18          $2           $6

=                      ($6 * 3)   ($2 * 1)    ($3 * 2)

b) The contribution margin per composite unit is computed as the addition of the contribution margin per composite unit for each product.  Each product's contribution margin per composite unit is calculated as the contribution per unit multiplied by the sales mix for each product.

5 0
2 years ago
On March 31, the end of the first month of operations, Barnard Inc. manufactured 15,000 units and sold 12,000 units. The followi
WARRIOR [948]

Answer and Explanation:

The computation of the unit cost of goods manufactured is shown below:

<u>Particulars                  variable costing      absorption costing</u>

variable cost of             $108                     $108

goods manufactured  ($1,620,000 ÷ 15,000)

Fixed manufacturing

cost                                                         $14

                                           ($210,000 ÷ 15,000)

unit cost of goods

manufactured           $108                     $122

3 0
2 years ago
Rasmussen Corporation expects to incur indirect overhead costs of $80,000 per month and direct manufacturing costs of $12 per un
vovikov84 [41]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Rasmussen Corporation expects to incur indirect overhead costs of $80,000 per month and direct manufacturing costs of $12 per unit. The expected production activity for the first four months of 2017 is as follows: January February March April Estimated production in units 6,000 7,000 3,000 4,000

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

January:

Estimated manufacturing overhead rate= (80,000/6,000)+12= 25.33 per unit

February:

Estimated manufacturing overhead rate= $23.43

March:

Estimated manufacturing overhead rate= 38.67

April:

Estimated manufacturing overhead rate= $32

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

January= 6,000*25.33= $151,980

February= 7,000*23.43= $164,010

March= 3,000*38.67= 116,010

April= 4,000*32= $128,000

8 0
3 years ago
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