Effect of disclaimer-bankruptcy and liquidation, Financial Accounting

Assignment Help:

Effect of disclaimer

The trustee may disclaim onerous property consisting of:

  1. Land burdened with onerous covenants;
  2. Stocks and shares;
  3. Unprofitable contracts, or
  4. Other property which is not readily saleable by reason of the liabilities attaching thereto;


and thereupon all the rights, interests and liabilities of the bankrupt and of the trustee in relation to the property are determined as from the date of disclaimer.


Related Discussions:- Effect of disclaimer-bankruptcy and liquidation

Determine the optimal price for each sub-group, The objective is to assess ...

The objective is to assess the incentive to acquire information on consumer characteristics. We consider a monopoly. The firm incurs no production cost. There are M consumers with

Forecasting earnings, what if 50% of customers who switch from pisa pizza ...

what if 50% of customers who switch from pisa pizza who switch from original pizza to healthier pizza then switch to another brand from healthier pizza.

Cash flow statement, does closing balance of cash flow statement equals to ...

does closing balance of cash flow statement equals to cash in balance sheet

Prepare the company''s closing entries for its revenues, Following are Nint...

Following are Nintendo's revenue and expense accounts for a recent calendar year. Net sales ¥2,008,622 Cost of sales 1,864,981 Advertising expense 118,908 Other expense, net 397

What kinds of business ownership exist, What kinds of business ownership ex...

What kinds of business ownership exist? Particular form of business ownership has significant implications for accounting purposes and so it's useful to be clear about the main

Mathematics of investment and credits, 1) A magazine offers a one-year subs...

1) A magazine offers a one-year subscription at a cost of 15 with renewal the following year 16.50. Also offered is a two-year subscription at a cost of 28. What is the effective a

What is the amount of liabilities, Craig's Cars has assets of $4,550 and st...

Craig's Cars has assets of $4,550 and stockholders' equity of $3,200. What is the amount of liabilities? What is the amount of claims?

Capital recovery factor, Equation illustrates the relationship in between P...

Equation illustrates the relationship in between PVA n , A, K and n. So manipulating this a bit: We find that A = PVA n [(k (1 + k) n )/((1 +k) n - 1)] [(k (1 + k) n )/(

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd