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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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ABC Company is beginning the process of liquidation. ABC has prepared a statement of financial affairs that discloses the following data:
Assets pledged with secured creditors | $ 210,000 |
---|---|
Secured liabilities | 125,000 |
Assets pledged with partially secured creditors | 290,000 |
Free assets (not including excess to be received from assets pledged on secured liabilities) | 225,000 |
Unsecured liabilities with priority | 121,000 |
Unsecured liabilities | 450,000 |
What percentage of unsecured liabilities will be paid?
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