present in good accounting form When AAA Company filed for liquidation with the Securities and Exchange Commission, it prepared the following statement of financial position: Current Assets (net realizable value, P50,000) P 80,000 Land and Building (fair value, P240,000) 200,000 Goodwill (fair value, 0) 40,000 Total Assets P320,000 Accounts Payable P160,000 Mortgage Payable (secured by land & building) 200,000 Ordinary share 100,000 Accumulated profits (140,000) Total Liabilities and Equity P320,000 What percentage of their claims are the unsecured creditors likely to get? a. 100% b. 56.25% c. 50.00% d. 43.75%
present in good accounting form
When AAA Company filed for liquidation with the Securities and Exchange Commission, it prepared the following statement of financial position:
Current Assets (net realizable value, P50,000) P 80,000
Land and Building (fair value, P240,000) 200,000
Total Assets P320,000
Accounts Payable P160,000
Mortgage Payable (secured by land & building) 200,000
Ordinary share 100,000
Total Liabilities and Equity P320,000
What percentage of their claims are the unsecured creditors likely to get?
a. 100%
b. 56.25%
c. 50.00%
d. 43.75%
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