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Title: Advanced Accounting: Corporate Liquidation
Description: Summary for Corporate Liquidation
Description: Summary for Corporate Liquidation
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Asset Pledged to Fully Secured Creditors
Fully Secured Liabilities
Free Asset Portion
Free Assets Unpledged
Total Free Assets
Unsecured Liabilities with Priority
Net Free Assets
xx
(xx)
xx
xx
xx
(xx)
xx
Net Free Assets = Amount available to pay unsecured liabilities without priority
...
Liquidation Expense/Admin Expense
2
...
Taxes
Partially Secured Liabilities
Asset Pledged
Unsecured Liability Portion
Unsecured Liability without Priority
Total Unsecured Liabilities
xx
(xx)
xx
xx
xx
Rate of Recovery = Dividend per peso claim
= Net Free Assets / Total Unsecured Liabilities
Assets @ Net Realizable Value
Liabilities @ Book Value
Estimated Deficiency to Creditors
xx
(xx)
xx
Asset @ Book Value
Liab @ Book Value
Estate Equity Beg
Gain on Realization
Loss on Realization
Unrecorded Liabilities
Estate Deficit End
xx
(xx)
xx
xx
(xx)
(xx)
xx
Dr
Assets to be Realized
Assets Acquired
Assets Realized
Assets not Realized
Liabilities to be Liquidated
Liabilities Assumed
Liabilities Liquidated
Liabilities not Liquidated
Supplementary Credits
Supplementary Charges
Total
Net Income
Cr
xx
xx
xx
xx
xx
xx
xx
xx
xx
xx
xx
?
xx
==
xx
?
xx
Net Loss
Title: Advanced Accounting: Corporate Liquidation
Description: Summary for Corporate Liquidation
Description: Summary for Corporate Liquidation