Problem 20 Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of affairs reflects the following amounts: Assets pledged with fully secured creditors has a book value of P160,000 while the estimated realizable value amounted to P190,000. Assets pledged with partially secured creditors has estimated realizable value of P60,000 with book value of P90,000. But the free assets amounted to P140,000 and P200,00 for the realizable and book value, respectively. Liabilities were as follows: Liabilities with priority Fully Secured creditors 22629 Partially secured creditors Unsecured creditors GQ 20,000 130,000 100,000 260,000 stogas aug 26Criteg på (Buc auc prigul gyorper ured DEUCE Q2. If the assets are converted into cash at the estimated realizable values, What is the ERP for partially secured creditors?
Problem 20 Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of affairs reflects the following amounts: Assets pledged with fully secured creditors has a book value of P160,000 while the estimated realizable value amounted to P190,000. Assets pledged with partially secured creditors has estimated realizable value of P60,000 with book value of P90,000. But the free assets amounted to P140,000 and P200,00 for the realizable and book value, respectively. Liabilities were as follows: Liabilities with priority Fully Secured creditors 22629 Partially secured creditors Unsecured creditors GQ 20,000 130,000 100,000 260,000 stogas aug 26Criteg på (Buc auc prigul gyorper ured DEUCE Q2. If the assets are converted into cash at the estimated realizable values, What is the ERP for partially secured creditors?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 12MC: (Appendix 14.1)Pamlico Company has a 500,000, 15%, 3-year note dated January 1, 2019, payable to...
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Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of affairs reflects the following amounts:
Assets pledged with fully secured creditors has a book value of P160,000 while the estimate( realizable value amounted to P190,000. Assets pledged with partially secured creditors has estimated realizable value of P60,000 with book value of P90,000. But the free assets amounted to P140,000 and P200,00 for the realizable and book value, respectively. Liabilities were as follows:
Liabilities with priority 20,000 Fully Secured creditors 130,000 Partially secured creditors 100,000 Unsecured creditors 260,000
Q2. If the assets are converted into cash at the estimated realizable values, what is the ERP for partially secured creditors?
Transcribed Image Text:Problem 20
Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of
affairs reflects the following amounts:
Win 05-0910
Assets pledged with fully secured creditors has a book value of P160,000 while the estimated
realizable value amounted to P190,000. Assets pledged with partially secured creditors has
estimated realizable value of P60,000 with book value of P90,000. But the free assets
amounted to P140,000 and P200,00 for the realizable and book value, respectively.
Liabilities were as follows:
Liabilities with priority
Fully Secured creditors
Partially secured creditors
Unsecured creditors
16062 09
20,000
130,000
100,000
CUTSU 260,000 26thLog på suc que pique per
Jurgis
RISSE
Q2. If the assets are converted into cash at the estimated realizable values, What is the ERP for
partially secured creditors?
ouge Aspe
ured
Lalapie
2200
150'000
11000
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