A Company That Was to Be Liquidated Had the Following

question 46

Multiple Choice

A company that was to be liquidated had the following liabilities: $$\begin{array} { | l | r | c | } \hline \text { Income Taxes } & \$ 10,000 & \\\hline \text { Notes Payable secured by land } & 100,000 & \\\hline \text { Accounts Payable } & 50,000 & \\\hline \text { Salaries Payable } ( \$ 12,000 \text { from Employee \#1 } & & \\\hline \text { and } \$ 2,000 \text { for Employee } \# 2 ) & 14,000 & \\\hline \text { Administrative expenses for liquidation } & 20,000 & \\\hline & & \\\hline \text { The company had the following assets: } & \text { Book Value } & \text { Fair Value } \\\hline \text { Current Assets } & \$ 100,000 & 95,000 \\\hline \text { Land } & 50,000 & 75,000 \\\hline \text { Building } & 150,000 & 200,000 \\\hline\end{array}$$
-Assets available for unsecured creditors after payments of liabilities with priority are calculated to be what amount?

• A) $226,000.
• B) $247,050.
• C) $251,000.
• D) $252,050.
• E) $275,000. $295,000 assets available to pay liabilities with priority and unsecured creditors - $42,950 liabilities with priority

Apply cash management models (BAT and Miller-Orr) to determine optimal cash balances and transfer strategies.

Evaluate the financial implications of cash flow management decisions on business operations.

Calculate the cost-effectiveness of lockbox systems considering bank charges and reduced collection times.

Understand the phases of the sexual response cycle and associated concepts.

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Definitions:

Autonomic Responses

Involuntary physiological reactions mediated by the autonomic nervous system, such as heart rate, digestion, respiratory rate, pupillary response, urination, and sexual arousal.

James-Lange Theory

A theory of emotion proposing that emotions result from our interpretations of bodily reactions to stimuli.

Body's Reactions

The physiological responses of the body to various stimuli, such as stress, fear, or exercise.

Autonomic Changes

These are adjustments in the autonomic nervous system that occur in response to various stimuli, regulating involuntary bodily functions such as heart rate and digestion.