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Pierre Imports will be liquidated. Its current balance sheet is shown below. Current assets are sold for $600,000 and fixed assets are sold for $1,000,000. All fixed assets are pledged as collateral for all mor tgage bonds. Subordinated debentures are subordinate only to notes payable. Trustee costs are $100,000.
Balance Sheet Before Default
Current Assets
1200000
Accounts payable
400000
Net Fixed Assets
1800000
Accrued taxes
80000
Accrued Wages
60000
Notes payable
Total current liabilities
600000
First-mortgage bonds
900000
Second-mortgage bonds
Debentures
500000
Subordinated debentures
300000
Common stock
200000
Retained earnings
100000
Total Assets
3000000
Total claims
a. How much will SHs receive?
b. How much will mortgage bondholders receive?
c. How much will prior ity creditors receive?
d. Identify the remaining general creditors. How much will each receive before subor dination adjustment and after adjustment?
in perfect markets risk management expenditures aimed at reducing a firms diversifiable risk serve toa. market the firm
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Its cost of goods sold is 75% of sales, and it finances working capital with bank loans at an 8% rate. Assume 365 days in year for your calculations. Do not round intermediate steps. Smith's cash conversion cycle (CCC) 84.23 Days.
What constitutes total risk, and how is it measured? Of the two components of total risk, discuss which one investors can eliminate? Explain the remaining risk, and how is it measured?
please read each question carefully. 1. define the concept of management.nbsp describe the major functions
Roger wants to set up a perpetual scholarship at his alma mater. He is willing to donate $500,000, which will be invested in an account earning 9 percent. What will be the annual scholarship that can be given from this investment?
Under Plan D, a $2,955,000 million long-term bond would be sold at an interest rate of 11.1 percent and 369,375 shares of stock would be purchased in the market at $8 per share and retired.
Discuss the role of Venture Capital Funds in supporting technology based enterprises promoted by first generation entrepreneurs?
your boss has todl you to evaluate two ovesns for tink-the tinkers a gourment sanwhich shop. after some questionin of
On the Milan boards, Fiat stock closed at EUR5.84 per share on Thursday, March 3, 2005. Fiat trades as an ADR on the NYSE. One underlying Fiat share equals one ADR.
What will be your annual return on $100 invested in her fund if she allows you to reinvest in her fund the 1% you earn each day?
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