Question: Please help with C and D using excel and showing your formula or how you did the work. Thanks so much Liquidation At the time

Please help with C and D using excel and showing your formulaor how you did the work. Thanks so much Liquidation At thePlease help with C and D using excel and showing your formula or how you did the work. Thanks so much

Liquidation At the time it defaulted on its interest payments and filed for bankruptcy, the McDaniel Mining Company had the balance sheet shown below (in thousands of dollars). The court, after trying unsuccessfully to reorganize the firm, decided that the only recourse was liquidation under Chapter 7. Sale of the fixed assets, which were pledged as collateral to the mortgage bondholders, brought in $420,000, while the current assets were sold for another $270,000. Thus, the total proceeds from the liquidation sale were $690,000. The trustee's costs amounted to $30,000; no single worker was due more than the maximum allowable wages per worker; and there were no unfunded pension plan liabilities. Current assets $ 400 Account payable $ 50 Net fixed assets 600 Accrued taxes Accrued wages Notes payable 180 Total current liabilities $ 300 First-mortgage bondsa 300 Second-mortgage bonds 200 Debentures 200 Subordinated debentures 100 Common stock 50 Retained earnings (150) Total assets $1,000 Total claims $1,000 Notes: All fixed assets are pledged as collateral to the mortgage bonds. subordinated to notes payable only. a. How much will McDaniel's shareholders receive from the liquidation? Round your answer to the nearest dollar. If no entry is required, enter "O". $ 0 b. How much will the mortgage bondholders receive? Round your answer to the nearest dollar. $ 420 c. How much will the other priority claimants receive from the liquidation? Do not round intermediate calculations. Round your answers to the nearest dollar. Claimant Trustee's expenses Workers' wages due Governments' taxes due Total Amount $ 30000 30000 40000 $ 100000 to to to to d. How much will the remaining general creditors receive from the distribution before subordination adjustment? Do not round intermediate calculations. Round your answers to the nearest dollar. Account Amount Received . . . Accounts payable Notes payable Second mortgage bonds Debentures Subordinated debentures Total . . " What is the effect of adjusting for subordination? Do not round intermediate calculations. Round your answers to the nearest dollar. If no entry is required, enter "O". Amount Received after subordination adjustment Account Notes payable Subordinated debentures

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