Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 01 Apr 2018 My Price 9.00

Ambrose Corporation

Ambrose Corporation reports the following information:

In liquidation, what amount of cash should each class of liabilities expect to collect?

Additional Information

 • If the company is liquidated, administrative expenses are estimated at $18,000.

• The Accounts Payable figure includes $10,000 in wages earned by the company’s 12 employees during May. No one earned more than $2,200.

• Liabilities do not include taxes of $14,000 owed to the U.S. government.

• Company officials estimate that 40 percent of the accounts receivable will be collected in a liquidation and that the inventory disposal will bring $80,000. The land and buildings will be sold together for approximately $310,000; the equipment should bring $130,000 at auction.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Apr 2018 08:04 PM My Price 9.00

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