Question

Ataway Company has severe financial difficulties and is considering filing a bankruptcy petition. At this time, it has the following assets (stated at net realizable value) and liabilities:
Assets (pledged against debts of $70,000) . . . . . . . . . . . . . . . . . . . $116,000
Assets (pledged against debts of $130,000) . . . . . . . . . . . . . . . . . . . . 50,000
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000
Liabilities with priority . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42,000
Unsecured creditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200,000

In a liquidation, how much money would be paid on the partially secured debt?



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  • CreatedOctober 04, 2014
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