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How much will each of the company liabilities be paid

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Reference no: EM132957280

company preparing for a liquidation has listed the following liabilities:

  • Note payable A of $122,000 secured by land having a book value of $66,000 and a fair value of $86,000.
  • Note payable B of $152,000 secured by a building having a $76,000 book value and a $56,000 fair value.
  • Note payable C of $76,000, unsecured.
  • Administrative expenses payable of $36,000.
  • Accounts payable of $136,000.
  • Income taxes payable of $46,000.

The company also has these other assets:

Cash of $26,000.
Inventory of $132,000 but with a net realizable value of $76,000.
Equipment of $122,000 but with a net realizable value of $66,000.

Problem 1: Based on this information, how much will each of the company's liabilities be paid at liquidation?

Reference no: EM132957280

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