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194 Chap ii. iii. "new" assets and liabilities transactions during 20x1 (you may use a compound enty po b. Prepare the statement of realization and liquidation. c. Compute for the ending balance of cash, d. Compute for the ending balance of the estate deficit sc I make a reconciliation for the computed cash balance. PROBLEM 4: MULTIPLE CHOICE - COMPUTATIONAL Use the following information for the next two questions: Pitch Co. is undergoing liquidation. Information on Pitch G assets and liabilities is shown below: ASSETS Book value Assets pledged to fully secured creditors Realizable Free assets Assets pledged to partially secured creditors 1,000,000 1,300 500,000 3000 1,600,000 1,2800 LIABILITIES 3.100.000 2,880 Fully secured creditors Unsecured liabilities with priority 400,000 480 Partially secured creditors 1,000,000 1,050 650,000 650 1,400,000 3,450,000 1,400.0 3,58000 Unsecured creditors without priority L. What is the estimated recovery percentage of uns creditors without priority? a. 60% b. 75% c. 78% d. 80% 2. How much can the "partially secured creditors" recover from their claims? a. 432,000 b. 445,600 c. 510,000 d. 548,000 Use the following information for the next four $23 McGalaxy Co.'s financial pri is as follows:

194 Chap ii. iii. "new" assets and liabilities transactions during 20x1 (you may use a compound enty po b. Prepare the statement of realization and liquidation. c. Compute for the ending balance of cash, d. Compute for the ending balance of the estate deficit sc I make a reconciliation for the computed cash balance. PROBLEM 4: MULTIPLE CHOICE - COMPUTATIONAL Use the following information for the next two questions: Pitch Co. is undergoing liquidation. Information on Pitch G assets and liabilities is shown below: ASSETS Book value Assets pledged to fully secured creditors Realizable Free assets Assets pledged to partially secured creditors 1,000,000 1,300 500,000 3000 1,600,000 1,2800 LIABILITIES 3.100.000 2,880 Fully secured creditors Unsecured liabilities with priority 400,000 480 Partially secured creditors 1,000,000 1,050 650,000 650 1,400,000 3,450,000 1,400.0 3,58000 Unsecured creditors without priority L. What is the estimated recovery percentage of uns creditors without priority? a. 60% b. 75% c. 78% d. 80% 2. How much can the "partially secured creditors" recover from their claims? a. 432,000 b. 445,600 c. 510,000 d. 548,000 Use the following information for the next four $23 McGalaxy Co.'s financial pri is as follows:

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter1: Business Transactions (ptrans)
Section: Chapter Questions
Problem 7R
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194 Chap ii. iii. "new" assets and liabilities transactions during 20x1 (you may use a compound enty po b. Prepare the statement of realization and liquidation. c. Compute for the ending balance of cash, d. Compute for the ending balance of the estate deficit sc I make a reconciliation for the computed cash balance. PROBLEM 4: MULTIPLE CHOICE - COMPUTATIONAL Use the following information for the next two questions: Pitch Co. is undergoing liquidation. Information on Pitch G assets and liabilities is shown below: ASSETS Book value Assets pledged to fully secured creditors Realizable Free assets Assets pledged to partially secured creditors 1,000,000 1,300 500,000 3000 1,600,000 1,2800 LIABILITIES 3.100.000 2,880 Fully secured creditors Unsecured liabilities with priority 400,000 480 Partially secured creditors 1,000,000 1,050 650,000 650 1,400,000 3,450,000 1,400.0 3,58000 Unsecured creditors without priority L. What is the estimated recovery percentage of uns creditors without priority? a. 60% b. 75% c. 78% d. 80% 2. How much can the "partially secured creditors" recover from their claims? a. 432,000 b. 445,600 c. 510,000 d. 548,000 Use the following information for the next four $23 McGalaxy Co.'s financial pri is as follows:
Transcribed Image Text:194 Chap ii. iii. "new" assets and liabilities transactions during 20x1 (you may use a compound enty po b. Prepare the statement of realization and liquidation. c. Compute for the ending balance of cash, d. Compute for the ending balance of the estate deficit sc I make a reconciliation for the computed cash balance. PROBLEM 4: MULTIPLE CHOICE - COMPUTATIONAL Use the following information for the next two questions: Pitch Co. is undergoing liquidation. Information on Pitch G assets and liabilities is shown below: ASSETS Book value Assets pledged to fully secured creditors Realizable Free assets Assets pledged to partially secured creditors 1,000,000 1,300 500,000 3000 1,600,000 1,2800 LIABILITIES 3.100.000 2,880 Fully secured creditors Unsecured liabilities with priority 400,000 480 Partially secured creditors 1,000,000 1,050 650,000 650 1,400,000 3,450,000 1,400.0 3,58000 Unsecured creditors without priority L. What is the estimated recovery percentage of uns creditors without priority? a. 60% b. 75% c. 78% d. 80% 2. How much can the "partially secured creditors" recover from their claims? a. 432,000 b. 445,600 c. 510,000 d. 548,000 Use the following information for the next four $23 McGalaxy Co.'s financial pri is as follows:
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