John's brother, phil, loaned him $10,000 to start his business. john didn't do too well and planned to file for bankruptcy. in may, he gave phil his car worth $8,000 to satisfy the debt. john filed his petition in november. after liquidation, if the car were included in his assets, every unsecured debtor would have received 85% of the debt owing to him. will this be a voidable preference?

No, this is not a voidable preference. John didn't treat Phil's loan differently and didn't give him Phil preferential treatment over other creditors.

A voidable preference happens when a debtor decides to pay, either in cash or by transferring assets, a debt just before filing for bankruptcy.

In this case John transferred his car to Phil in May and he filed for bankruptcy in November.

b. condominum i think

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.