Ch.15 Practice Copy

7/23/2019 Ch.15 Practice Copy

1/22

Bell 113,500 40% Insolvent

Hardy 94,000 30%

Dennard 9,000 20%

Suddath 105,000 10%

Creditors 46,000

ssets 550,000 !oss 235,000

!ia"ilities 350,000

Bell Hardy Dennard Suddath

Be# Bal$ 113,500 94,000 9,000 105,000

!oss 94,000 0,500 4,000 23,500

d&$ Bal$ 19,500 23,500 3',000 '1,500Dennard 19,000 14,250 3',000 4,50

(in ) 500 9,250 0 6,50

Carney '0,000 40%

*ier+e 33,000 30%

(enton 63,000 20%

Hoehn 26,000 10%

Ste 1 Ca$ Bal *-! (a. !oss

Carney '0,000 40% 200,000

*ier+e 33,000 30% 110,000

(enton 63,000 20% 315,000

Hoehn 26,000 10% 260,000

Ste 1 Carney *ier+e (enton Hoehn

Be#$ Bal '0,000 33,000 63,000 26,000

ss$ !oss /110 44,000 33,000 22,000 11,000

d&$ Balan+e 36,000 0 41,000 15,000

Ste 2 Ca$ Bal *-! (a. !oss

Carney '0,000 1 140,000

(enton 63,000 0 220,500

Hoehn 26,000 0 1'2,000


2/22

Ste 2 Carney (enton Hoehn

Be#$ Bal '0,000 63,000 26,000

ss$ !oss /140 '0,000 40,000 20,000

d&$ Balan+e 0 23,000 6,000

Ste 2 Ca$ Bal *-! (a. !oss(enton 63,000 1 94,500

Hoehn 26,000 0 ',000

Ste 2 (enton Hoehn

Be#$ Bal 63,000 26,000

ss$ !oss /' 52,000 26,000

d&$ Balan+e 11,000 0

tinson 6',000 40%

aorale 2',000 30%

Dennsore 50,000 20%

asutin 46,000 10%

Ste 1

tinson 6',000 40% 10,000

aorale 2',000 30% 93,333

Dennsore 50,000 20% 250,000asutin 46,000 10% 460,000

tinson aorale Dennsore asutin

Be#$ Balan+e 6',000 2',000 50,000 46,000

Contri"ution 26,000

d&$ Balan+e 6',000 2',000 50,000 20,000

Both Insolvent 40,000 30,000 50,000 20,000

d&$ Balan+e 2',000 2,000 0 0

Cash '2,000 -* 232,000

ther ssets 60,000 erris, !oan 43,000

Hard7i+, !oan 33,000 Hard7i+ 20,000 40%

'5,000 Saunders 10,000 30%

erris 160,000 30%


3/22

'5,000

Cash ther ss -* Hard7i+ Saunders

Be#$ Balan+e '2,000 60,000 232,000 23,000 10,000

Sold ssets 230,000 304,000 0 29,600 22,200

ssued !oss 0 456,000 0 1'2,400 136,'00*aid !ia"ilities 232,000 232,000

Sa8e Balan+e '0,000 0 464,000 25,000 11,000

Cash 42,000 !ia"ilities 64,000

ther ssets 142,000 (iller 54,000 60%

yson 54,00020%

:atson 12,000 20%

1'4,000 1'4,000

Ste 1 Be#$ *-! (a. !oss

(iller 54,000 60% 90,000

yson 54,00020% 20,000

:atson 12,000 20% 60,000

Ste 1 (iller yson :atson

Be#$ Balan+e 54,000 54,000 12,000

ss$ !oss /60 36,000 12,000 12,000

d&$ Balan+e 1',000 42,000 0

Ste 2 Be#$ *-! (a. !oss

(iller 1',000 5% 24,000

yson 42,00025% 16',000

Ste 2 (iller yson

Be#$ Balan+e 1',000 42,000

ss$ !oss /24 1',000 6,000

d&$ Balan+e 0 36,000

irst 64,000!ia"ilities ;eed ore than

;e.t 36,000 yson

;e.t 24,000 5% yson

25% (iller

eainin# 60% yson


4/22

20% (iller

20% :atson


5/22


6/22


7/22

erris Che+

203,000

22,200

136,'00

44,000

124,000

'2,000


8/22


9/22

!oan 8ro :hite 9,000

Bla+, Ca 5,00 30% *ersonally Insolvent

:hite, Ca 90030% *ersonally Insolvent


10/22

Ste 1 das Baer Carvil Do""s

Be#$ Balan+e 99,000 4',000 4,000 109,000

ss$ !oss /160 32,000 4',000 4',000 32,000

d&$ Balan+e 6,000 0 26,000 ,000

Ste 2 Ca Bal *-! (a. !oss

das 6,000 0 234,500

Carvil 26,000 0 60,66

Do""s ,000 0 269,500

Ste 2 das Carvil Do""s

Be#$ Balan+e 6,000 26,000 ,000

ss$ !oss /6066 1,333 26,000 1,333

d&$ Balan+e 49,66 0 59,66


das 49,66 1 99,333

Do""s 59,66 1 119,333

Ste 3 das Do""s

Be#$ Balan+e 49,66 59,66

ss$ !oss /99333 49,66 49,66

d&$ Balan+e 0 10,000

Ste 1 Ca Bal *-! (a. !ossdas 99,000 20% 495,000

Baer 4',000 20% 240,000

Carvil 4,000 30% 246,66

Do""s 109,000 30% 363,333


Be#$ Balan+e 99,000 4',000 4,000 109,000

ss$ !oss /240 4',000 4',000 2,000 2,000

d&$ Balan+e 51,000 0 2,000 3,000


das 51,000 0 204,000

Carvil 2,000 0 5,333

Do""s 3,000 0 9',66


Be#$ Balan+e 51,000 2,000 3,000


11/22

ss$ !oss /5333 1,333 2,000 2,000

d&$ Balan+e 49,66 0 35,000


das 49,66 0 124,16

Do""s 35,000 1 5',334

Ste 3 das Do""s

Be#$ Balan+e 49,66 35,000

ss$ !oss /5'334 23,334 35,000

d&$ Balan+e 26,333 0


das 99,000 10% 990,000

Baer 4',000 30% 160,000

Carvil 4,000 30% 246,66Do""s 109,000 30% 363,333


Be#$ Balan+e 99,000 4',000 4,000 109,000

ss$ !oss /160 16,000 4',000 4',000 4',000

d&$ Balan+e '3,000 0 26,000 61,000


das '3,000 0 5'1,000

Carvil 26,000 0 60,66Do""s 61,000 0 142,333


Be#$ Balan+e '3,000 26,000 61,000

ss$ !oss /6066 ',66 26,000 26,000

d&$ Balan+e 4,333 0 35,000


das 4,333 0 29,333

Do""s 35,000 1 46,666

Ste 3 das Do""s

Be#$ Balan+e 4,333 35,000

ss$ !oss /46666 11,66 35,000

d&$ Balan+e 62,66 0

irst 3,000!ia"ilities


12/22

;e.t 62,66 das llo+

;e.t 24,333 das 25% 6,0'3

Do""s 5% 1',250

Ste 1 Ca Bal *-! (a. !ossdas 99,000 10% 990,000

Baer 4',000 30% 160,000

Carvil 4,000 40% 1'5,000

Do""s 109,000 20% 545,000


Be#$ Balan+e 99,000 4',000 4,000 109,000

ss$ !oss /160 16,000 4',000 64,000 32,000

d&$ Balan+e '3,000 0 10,000 ,000


das '3,000 0 5'1,000

Carvil 10,000 1 1,500

Do""s ,000 0 269,500


Be#$ Balan+e '3,000 10,000 ,000

ss$ !oss /1500 2,500 10,000 5,000

d&$ Balan+e '0,500 0 2,000


das '0,500 0 241,500

Do""s 2,000 1 10',000

Ste 3 das Do""s

Be#$ Balan+e '0,500 2,000

ss$ !oss /10' 36,000 2,000

d&$ Balan+e 44,500 0

irst 3,000 !ia"ilities

;e.t 44,500das 100%

;e.t 10',000das 25%

Do""s 5%

142,500


13/22


;on Cash 106,000 oss 4',000

14',000 (il"urn 13,000

hoas '0,000

14',000

Cash ;on Cash !ia"ilities oss

Be#$ Balan+e 42,000 106,000 33,000 4',000

Sale o8 ;onCash 0 106,000 31,'00

!ia"ilities *aid 33,000 33,000

d&$ Balan+e 9,000 0 0 16,200

Ste 1 Ca$ *-! (a. !oss

oss 16,200 0 3,'00

hoas 3,600 1 65,'00

Ste 1 oss hoas

Be#$ Balan+e 16,200 3,600

!oss /3,'00 16,200 21,600

d&$ Bal 0 16,000

Cash ;on Cash !ia"ilities oss

Be#$ Balan+e 42,000 106,000 33,000 4',000

Sale o8 ;onCash 56,000 106,000 0 15,000

!ia"ilities *aid 33,000 33,000d&$ Balan+e 65,000 0 0 33,000

(il"urn Ins$ 0 0 0 12,000

d&$ Balan+e 65,000 0 0 21,000

Sason 15,000 30% Cash 15,000

lin#on 2',000 30%

Carton 11,000 20%

oulan 1',000 20%

Cash !ia"ilities Sason lin#on

Be#$ Balan+e 15,000 35,000 15,000 2',000

S- Insolvent 2,600 2',000

d&$ Balan+e 12,600 0



14/22

Be#$ Balan+e 15,000 35,000 15,000 2',000

Insolvent 6,50 6,50

d&$ Balan+e 15,000 35,000 ',250 34,50

*ays 34,50 34,50


Be#$ Balan+e 15,000 35,000 15,000 2',000

Insolvent 0 0 12,000 2',000

d&$ Balan+e 15,000 35,000 3,000 0

*ays 26,000


- '',000 (ar+h 29,000

Inventory '2,000 ril ,000

**-= 40,000 (ay 4',000

Cash 5',000 !oss 24,000

Inventory '2,000

(ar+h ',000ril 12,000

(ay 4,000

!i>uidation =. ',100

Cash ',100

!ia"ilities 42,000

Cash 42,000

Cash 4,000

- 4,000

Cash ;onCash !ia"ilities (ar+h

Be# Bal 6,900 '1,000 1',900 21,000

!oss on **= 0 '1,000 0 2,000

*aid !ia"ilities 1',900 1',900

d&$ Balan+e 49,000 0 0 6,000


15/22


16/22

Blue

12,900

12,900

0

0

20%

30%

30%

20%

Baer Carvil Do""s

4',000 109,000 109,000

96,000 96,000 64,000

0 0 0

4',000 13,000 45,000

4',000 20,51 13,14

0 ,51 31,2'6

,51 3,'6

0 0 2,500


17/22


18/22


19/22

otal

6',50

1',250

',000


20/22

30%

30%

40%

(il"urn hoas

13,000 '0,000

31,'00 42,400

44,'00 3,600

44,'00

(il"urn hoas

13,000 '0,000

15,000 20,000

2',000 60,000

2',000 16,000

0 44,000

Carton oulan

11,000 1',000

1',400 1',000

,400 0

Carton oulan


21/22

11,000 1',000 0

4,500 1',000 0

6,500 0 0

0

0

0

Carton oulan

11,000 1',000

',000 ',000

3,000 26,000

26,000

0

1

0

ril (ay

65,000 44,000 0

40,500 13,500 0

0

24,500 30,500 0


22/22

Documents

Ch.15 Practice Copy