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Quincy Corp

question 69

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Quincy Corp., about to be liquidated, has the following amounts for its assets and liabilities:
Quincy Corp., about to be liquidated, has the following amounts for its assets and liabilities:    The mortgage is secured by the land and building, and the note payable is secured by the equipment. Quincy expects that the expenses of administering the liquidation will total $40,000. -Gongman Corp.owned the following assets when it came out of aChapter 11 bankruptcy:   Gongman Corp.had a fresh start reorganization value of $1,000,000.What amount of goodwill should have been recognized in recording the reorganization? A)  $ 20,000. B)  $100,000. C)  $ 60,000. D)  $210,000. E)  $ 98,000. The mortgage is secured by the land and building, and the note payable is secured by the equipment. Quincy expects that the expenses of administering the liquidation will total $40,000.
-Gongman Corp.owned the following assets when it came out of aChapter 11 bankruptcy: Quincy Corp., about to be liquidated, has the following amounts for its assets and liabilities:    The mortgage is secured by the land and building, and the note payable is secured by the equipment. Quincy expects that the expenses of administering the liquidation will total $40,000. -Gongman Corp.owned the following assets when it came out of aChapter 11 bankruptcy:   Gongman Corp.had a fresh start reorganization value of $1,000,000.What amount of goodwill should have been recognized in recording the reorganization? A)  $ 20,000. B)  $100,000. C)  $ 60,000. D)  $210,000. E)  $ 98,000. Gongman Corp.had a fresh start reorganization value of $1,000,000.What amount of goodwill should have been recognized in recording the reorganization?


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