Subject : Advanced Accounting

Subject : Advanced Accounting

ASSIGNMENT 2 PROLIDE 16.3 States of Alairs and Deficiency Account LOD The Company has filed unlupky petite e acces December 31, MM, Na cene AR 75.000 ELO Find Gede Waris Pro 51.000 4.000 PExpemes mentis Stack 1000 perty and quien) Gandel Tee Acable Accrd Wages (all with pery Bank Nos Payable Mortgage Pahle Com Suck Resined Timings deficios 3510 SASSO The following additional informatie 1. All notes cale with the exceptions of one for $2.500 expected to be collected. The receivable are pledged security on the banknotes payable 2. Or the total acts receivable, 555.600 is expected to the collected. The conce he areale pledged security on the banks able Finished goods can be sold at Show cont. Selling spomes will be approximately 15% of selling price. Work in proces to be completed wanaional cost om, a which 519.00 presents the cost of raw materials. The expected selling price of the work is process for completion) is 10cont with selling expenses of Selling price Unused raw materials can be sold for SIR .. Prepaid pesare fully recoverable $ The investment in stock cams of 100 shares of MBI Company with a current market value of $19.000 & Land is appealsed at $200.000, and plant and equipment is appris Son. The land and plant and equipment serve as collateral on the mape payable. A butun cunde interest on the mortgage payable amount to $3.000 Required 1. Prepare a Matement of affairs, including a deficiency ccm B. Compute the estimated dividend to be paid general mecum creden PROBLEM 1A Statement of Allwins and Deficiency Account Lo Phot Company has filed a bunkruptcy peitim. Is account balances December 31, 2021, are printed here 5 2.500 80.000 7.00 Cash Notes Receivable Accounts Receivable (net) Immons Finished Goals Work in Preces Raw Materials Prepaid Expenses Investment in Slack Land Property and Equipment (net Goodwill Total 0.000 LOCO 51.000 4.000 12.000 1000 km.000 10,000 SASA,STO $220.000 5.000 225.000 Accuents Payable Accrued Wages (all with priority Bank Notes Payable Mortgage Payable Common Sack Retained Earnings deficit Total 150.000 290,00 1361,500 SAS 500 The following additional mormation is wailable 1. All notes receivable with the exception of one for $2.500 are expected to be collected. The notes receivable are pledged as security on the bank tekes payable. 2. Of the hotal accounts receivable, 555,000 is expected to be collected. The accounts receive able are also pledged as security on the bank maites payable. 3 Finished goods can be sold at 3/3 above cost. Selling expenses will be appouuimately 15% of selling price. Work in process is to be completed at an additional cost of som, which $19.000 represents the cost of raw materials. The expected selling price of the work in proces after completion is 10% above cont, with selling penses of 158 of selling price. Unued raw materials can be sold for $18.00, 4 Prepaid expenses are fully recoverable, The investment in stock consists of 100 shares of MBI Company with a current market value 519.000 Land is appraised a $200.000and plant and equipment is appraised a S205.000. The land and plant and equipment serve as collateral ca the mortgage payable. Necrued bul une corded interest in the mortgage payable amounts to $3.000 Required A. Prepare a statement of affairs, including a deficiency account B. Compute the estimated dividend to be paid general unaural creditor. ASSIGNMENT 2 PROLIDE 16.3 States of Alairs and Deficiency Account LOD The Company has filed unlupky petite e acces December 31, MM, Na cene AR 75.000 ELO Find Gede Waris Pro 51.000 4.000 PExpemes mentis Stack 1000 perty and quien) Gandel Tee Acable Accrd Wages (all with pery Bank Nos Payable Mortgage Pahle Com Suck Resined Timings deficios 3510 SASSO The following additional informatie 1. All notes cale with the exceptions of one for $2.500 expected to be collected. The receivable are pledged security on the banknotes payable 2. Or the total acts receivable, 555.600 is expected to the collected. The conce he areale pledged security on the banks able Finished goods can be sold at Show cont. Selling spomes will be approximately 15% of selling price. Work in proces to be completed wanaional cost om, a which 519.00 presents the cost of raw materials. The expected selling price of the work is process for completion) is 10cont with selling expenses of Selling price Unused raw materials can be sold for SIR .. Prepaid pesare fully recoverable $ The investment in stock cams of 100 shares of MBI Company with a current market value of $19.000 & Land is appealsed at $200.000, and plant and equipment is appris Son. The land and plant and equipment serve as collateral on the mape payable. A butun cunde interest on the mortgage payable amount to $3.000 Required 1. Prepare a Matement of affairs, including a deficiency ccm B. Compute the estimated dividend to be paid general mecum creden PROBLEM 1A Statement of Allwins and Deficiency Account Lo Phot Company has filed a bunkruptcy peitim. Is account balances December 31, 2021, are printed here 5 2.500 80.000 7.00 Cash Notes Receivable Accounts Receivable (net) Immons Finished Goals Work in Preces Raw Materials Prepaid Expenses Investment in Slack Land Property and Equipment (net Goodwill Total 0.000 LOCO 51.000 4.000 12.000 1000 km.000 10,000 SASA,STO $220.000 5.000 225.000 Accuents Payable Accrued Wages (all with priority Bank Notes Payable Mortgage Payable Common Sack Retained Earnings deficit Total 150.000 290,00 1361,500 SAS 500 The following additional mormation is wailable 1. All notes receivable with the exception of one for $2.500 are expected to be collected. The notes receivable are pledged as security on the bank tekes payable. 2. Of the hotal accounts receivable, 555,000 is expected to be collected. The accounts receive able are also pledged as security on the bank maites payable. 3 Finished goods can be sold at 3/3 above cost. Selling expenses will be appouuimately 15% of selling price. Work in process is to be completed at an additional cost of som, which $19.000 represents the cost of raw materials. The expected selling price of the work in proces after completion is 10% above cont, with selling penses of 158 of selling price. Unued raw materials can be sold for $18.00, 4 Prepaid expenses are fully recoverable, The investment in stock consists of 100 shares of MBI Company with a current market value 519.000 Land is appraised a $200.000and plant and equipment is appraised a S205.000. The land and plant and equipment serve as collateral ca the mortgage payable. Necrued bul une corded interest in the mortgage payable amounts to $3.000 Required A. Prepare a statement of affairs, including a deficiency account B. Compute the estimated dividend to be paid general unaural creditor