$ 8,000 120,000 Income taxes.. Notes payable (secured by land). Accounts payable.... Salaries payable (evenly divided between two employees). Bonds payable..... Administrative expenses for liquidation 85,000 70,000 Book Value Falr Value Current assets $ 35,000 Land.....- Buildings and equipment . 100,000 100,000 110,000

What are the general rules for measuring gain or loss byboth creditor and debtor in a troubled-debt restructuringinvolving a settlement?

4. PROBLEM 3-6 In-Transit Items LO 8 On July 31, 2019, Ping Company purchased 90% of Santos Company's common stock for $2,010,000 cash. Immediately after the acquisition, the two companies' balance sheets were as follows: Ping $ 320,000 S 150,000 Santos Cash Accounts receivable 600,000 300,000 Note receivable 100,000 -0- Inventory 1,840,000 400,000 Advance to Santos Company Investment in Santos Company 2,010,000 60,000 -0- -0- Plant and equipment (net) 3,000,000 1,500,000 Land 90.000 90,000 Total $8,020,000 $2,440,000 $ 800,000 S 140,000 100,000 Accounts payable Notes payable Common stock 900,000 2,400,000 900,000 680,000 620,000 $8,020,000 $2,440,000 Other contributed capital 2,200,000 Retained earnings 1,720,000 Total Santos Company has not yet recorded the $60,000 cash advance from Ping Company. Ping Company's accounts receivable include $20,000 due from Santos Company Santos Company's $100,000 note payable is payable to Ping Company Neither company has recorded $7,000 of interest…

What are the major types of divestitures? Whatmotivates firms to divest assets?