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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Hanna Corporation filed a petition under Chapter 7 of the bankruptcy act on June 30, 2011. Data relevant to its financial position as of this date are:
REQUIRED
1. Prepare a statement of affairs assuming that the note payable and interest are secured by a mortgage on the equipment and that wages are less than $4,000 per employee.
2. Estimate the amount that will be paid to each class of claims if priority liquidation expenses, including trustee fees, are $4,000 and estimated net realizable values are actuallyrealized.
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