Kamy Corp. is in liquidation under Chapter 7 of the Federal Bankruptcy Code. The bankruptcy trustee has established a new set of books for the bankruptcy estate. After assuming custody of the estate, the trustee discovered an unrecorded invoice of $1,000 for machinery repairs performed before the bankruptcy filing. In addition, a truck with a carrying amount of $20,000 was sold for $12,000 cash. This truck was bought and paid for in the year before the bankruptcy.
What amount should be debited to estate equity as a result of these transactions?
a. $0
b. $8,000
c. $9,000
d. $1,000
Answers: 3
Another question on Business
Business, 21.06.2019 23:20
Which feature transfers a slide show into a word-processing document?
Answers: 2
Business, 22.06.2019 11:00
Using a cps-sample of 7,440 individuals, you estimate the following regression: = 20.91 - 2.61 x female where female is a binary variable that takes on the value of 1 for females and is 0 otherwise. the standard error on the coefficient on female is 0.25. the 95% confidence interval for the gender wage gap, or the amount that females earn less, is: a) [-3.10, -2.12] b) [18.30, 23.52] c) [-3.02, -2.20] d) [-1.96, -1.64]
Answers: 3
Business, 22.06.2019 16:50
Slow ride corp. is evaluating a project with the following cash flows: year cash flow 0 –$12,000 1 5,800 2 6,500 3 6,200 4 5,100 5 –4,300 the company uses a 11 percent discount rate and an 8 percent reinvestment rate on all of its projects. calculate the mirr of the project using all three methods using these interest rates.
Answers: 2
Business, 22.06.2019 22:30
Which of the following situations is most likely to change a buyer's market into a seller's market? a. a natural disaster that drives away a lot of the population. b. the price of building materials suddenly going up. c. the government buys up a lot of houses to build a new freeway. d. a factory laying off a lot of workers in the area.
Answers: 1
You know the right answer?
Kamy Corp. is in liquidation under Chapter 7 of the Federal Bankruptcy Code. The bankruptcy trustee...
Questions
History, 24.02.2021 06:20
Computers and Technology, 24.02.2021 06:20
History, 24.02.2021 06:20
Geography, 24.02.2021 06:20
English, 24.02.2021 06:20
Chemistry, 24.02.2021 06:20
Biology, 24.02.2021 06:20
Mathematics, 24.02.2021 06:20
