Mount Inc Was a Hardware Store That Operated in Boise, Idaho

question 26

Essay

Mount Inc. was a hardware store that operated in Boise, Idaho. Management made some poor inventory acquisitions that loaded the store with unsalable merchandise. Due to the decline in revenues, the company became insolvent. Following is a trial balance as of March 15, 2021, the day the company filed for Chapter 7 liquidation. Company officials believed that sixty percent of the accounts receivable could be collected if the company was liquidated. The building and land had a fair value of $97,500, while the equipment was worth $24,700. The investments represented shares of a publicly traded company that could be sold at the time for $27,300. The entire inventory could be sold for only $42,900. Administrative expenses necessary to carry out a liquidation were estimated to be $20,800.Assume that the company was being liquidated and that the following transactions occurred:Accounts receivable of $23,400 were collected.All of the company's inventory was sold for $52,000.Additional accounts payable of $13,000 incurred for various expenses, for utilities and maintenance that were subsequently discovered.The land and building were sold for $92,300.The note payable due to the Idaho Savings and Loan was paid.The equipment was sold at auction for only $14,300 with the proceeds applied to the note owed to the Second National Bank.The investments were sold for $27,300.Administrative expenses totaled $26,000 as of July 26, 2021, but no payment had yet been made.Required:Prepare a statement of realization and liquidation for the period from March 15 through July 26, 2021.

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

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Definitions:

Racial Outgroup

A group of individuals who are perceived as different or separate from one's own group due to racial or ethnic distinctions.

Right-Wing Authoritarianism

A personality and ideological framework characterized by submission to authority, aggressiveness towards out-groups, and a rigid adherence to societal norms.

Social Dominance Orientation

A personality trait which predicts social and political attitudes, emphasizing a preference for hierarchy in the social structure and domination over lower-status groups.

Need for Structured Knowledge

The desire or preference for organized and coherent information in order to understand complex phenomena or concepts better.