Orville Company Recently Petitioned for Bankruptcy and Is Now in the Process

question 20

Multiple Choice

Orville Company recently petitioned for bankruptcy and is now in the process of preparing a statement of affairs.The carrying values and estimated fair values of the assets of Orville Company are as follows:
Debts of Orville are as follows:

-Based on the preceding information,what estimated amount will be available for general unsecured creditors upon liquidation?

• A)$28,000
• B)$93,000
• C)$113,000
• D)$121,000

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Definitions:

Pinna

The visible part of the ear that is outside the head, which captures sound waves and directs them into the ear canal.

Middle Ear

The part of the ear that channels and amplifies sound through the eardrum, hammer, anvil, and stirrup to the inner ear.

Eardrum

A slim barrier that divides the external ear from the internal ear and oscillates when influenced by sound vibrations.

Middle Ear

The part of the ear that contains three small bones (the hammer, anvil, and stirrup) that transmit sound vibrations from the eardrum to the inner ear.