Business, 07.04.2020 23:56 netflixacc0107

Knox operates an electronics store as sole proprietor. On April 5, Knox was involuntarily petitioned into bankruptcy under the liquidation provisions of the Bankruptcy Code. On April 20, a trustee in bankruptcy was appointed and an order for relief was entered. Knox's nonexempt property has been converted to cash, which is available to satisfy the following claims and expenses as may be appropriate:

Claims and Expenses

Claim by Dart Corp. (one of Knox's suppliers) for computers ordered on April 5, and delivered on credit to Knox on April 10. $20,000

Fee earned by the bankruptcy trustee. $ 15,000

Claim by Boyd for deposit given to Knox on April I, for computer Boyd purchased for personal use but that had not yet been received by Boyd. $ 1,500

Claim by Noll Co. for the delivery of stereos to Knox on credit. The stereos were delivered on April 4, and a financing statement was properly filed on April 5. These stereos were sold by the trustee with Noll's consent for $7,500, their fair market value. $ 5,000

Fees earned by the attorneys for the bankruptcy estate. $ 10,000

Claims by unsecured general creditors $ 1,000 The cash available for distribution includes the proceeds from the sale of the stereos.

What amount will be distributed to Boyd if the cash available for distribution is $50,800?

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 08:00, sanociahnoel

At a student café, there are equal numbers of two types of customers with the following values. the café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i. e., she cannot price-discriminate). students with early classes students without early classes coffee 70 60 banana 51 101 the marginal cost of coffee is 10 and the marginal cost of a banana is 40. the café owner is considering three pricing strategies: 1. mixed bundling: price bundle of coffee and a banana for 161, or just a coffee for 70. 2. price separately: offer coffee at 60, price a banana at 101. 3. bundle only: coffee and a banana for 121. do not offer goods separately. assume that if the price of an item or bundle is no more than exactly equal to a student's willingness to pay, then the student will purchase the item or bundle. for simplicity, assume there is just one student with an early class, and one student without an early class. price strategy revenue from pricing strategy cost from pricing strategy profit from pricing strategy 1. mixed bundling $ $ $ 2. price separately $ $ $ 3. bundle only $ $ $ pricing strategy yields the highest profit for the café owner.

Answers: 1

continue

Business, 22.06.2019 14:30, 20guadalupee73248

The face of a company is often that of the lowest paid employees who meet the customers. select one: true false

Answers: 1

continue

Business, 22.06.2019 16:40, yovann

Consider two similar industries, portal crane manufacturing (pcm) and forklift manufacturing (flm). the pcm industry has exactly three incumbents with annual sales of $800 million, $200 million and $100 million, respectively. the flm industry has also exactly three incumbents, with annual sales of $500 million, $450 million and $400 million, respectively. which industry is more likely to experience a higher level of rivalry?

Answers: 3

continue

Business, 22.06.2019 20:50, igtguith

Which of the following statements regarding the southern economy at the end of the nineteenth century is accurate? the south was producing as much cotton as it had before the civil war.

Answers: 3

continue

You know the right answer?

Knox operates an electronics store as sole proprietor. On April 5, Knox was involuntarily petitioned...