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The following balance sheet has been produced for Litz Corporation as of August 8, 2011, the date on which the company is to begin selling assets as part of a corporate liquidation:
The following events occur during the liquidation process:The investments are sold for $39,000.The inventory is sold at auction for $48,000.The money derived from the inventory is applied against the current notes payable.Administrative expenses of $15,000 are incurred in connection with the liquidation.The land and buildings are sold for $315,000. The long-term notes payable are paid.The accountant determines that $34,000 of the accounts payable are liabilities with priority.The company's equipment is sold for $84,000.Accounts receivable of $34,000 are collected. The remainder of the receivables is considered uncollectible.The administrative expenses are paid.
a. Prepare a statement of realization and liquidation for the period just described.b. What percentage of their claims should the unsecured creditors receive?
Garden Variety Flower Shop uses 1000 clay pots a month. The pots are purchased at $3 each. Annual carrying costs per pot are estimated to be 25% of cost, and ordering costs are $25 per order.
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Plaintiff, Heath Benjamin (Benjamin), found more than $18,000 in currency inside the wing of an airplane. At the time of this discovery, State Central Bank (State) owned the plane and it was being serviced by Lindner Aviation, Inc. (Lindner). Benjami..
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how do managers at some technology companies that invest resources in recruiting and training potentially vulnerable to having their employees poached?
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the corruption perceptions index cpi is a comparative assessment of integrity performance for a variety of countries.a
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