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7/23/2019 Ch.15 Practice Copy
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Bell 113,500 40% Insolvent
Hardy 94,000 30%
Dennard 9,000 20%
Suddath 105,000 10%
Creditors 46,000
ssets 550,000 !oss 235,000
!ia"ilities 350,000
Bell Hardy Dennard Suddath
Be# Bal$ 113,500 94,000 9,000 105,000
!oss 94,000 0,500 4,000 23,500
d&$ Bal$ 19,500 23,500 3',000 '1,500Dennard 19,000 14,250 3',000 4,50
(in ) 500 9,250 0 6,50
Carney '0,000 40%
*ier+e 33,000 30%
(enton 63,000 20%
Hoehn 26,000 10%
Ste 1 Ca$ Bal *-! (a. !oss
Carney '0,000 40% 200,000
*ier+e 33,000 30% 110,000
(enton 63,000 20% 315,000
Hoehn 26,000 10% 260,000
Ste 1 Carney *ier+e (enton Hoehn
Be#$ Bal '0,000 33,000 63,000 26,000
ss$ !oss /110 44,000 33,000 22,000 11,000
d&$ Balan+e 36,000 0 41,000 15,000
Ste 2 Ca$ Bal *-! (a. !oss
Carney '0,000 1 140,000
(enton 63,000 0 220,500
Hoehn 26,000 0 1'2,000
7/23/2019 Ch.15 Practice Copy
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Ste 2 Carney (enton Hoehn
Be#$ Bal '0,000 63,000 26,000
ss$ !oss /140 '0,000 40,000 20,000
d&$ Balan+e 0 23,000 6,000
Ste 2 Ca$ Bal *-! (a. !oss(enton 63,000 1 94,500
Hoehn 26,000 0 ',000
Ste 2 (enton Hoehn
Be#$ Bal 63,000 26,000
ss$ !oss /' 52,000 26,000
d&$ Balan+e 11,000 0
tinson 6',000 40%
aorale 2',000 30%
Dennsore 50,000 20%
asutin 46,000 10%
Ste 1
tinson 6',000 40% 10,000
aorale 2',000 30% 93,333
Dennsore 50,000 20% 250,000asutin 46,000 10% 460,000
tinson aorale Dennsore asutin
Be#$ Balan+e 6',000 2',000 50,000 46,000
Contri"ution 26,000
d&$ Balan+e 6',000 2',000 50,000 20,000
Both Insolvent 40,000 30,000 50,000 20,000
d&$ Balan+e 2',000 2,000 0 0
Cash '2,000 -* 232,000
ther ssets 60,000 erris, !oan 43,000
Hard7i+, !oan 33,000 Hard7i+ 20,000 40%
'5,000 Saunders 10,000 30%
erris 160,000 30%
7/23/2019 Ch.15 Practice Copy
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'5,000
Cash ther ss -* Hard7i+ Saunders
Be#$ Balan+e '2,000 60,000 232,000 23,000 10,000
Sold ssets 230,000 304,000 0 29,600 22,200
ssued !oss 0 456,000 0 1'2,400 136,'00*aid !ia"ilities 232,000 232,000
Sa8e Balan+e '0,000 0 464,000 25,000 11,000
Cash 42,000 !ia"ilities 64,000
ther ssets 142,000 (iller 54,000 60%
yson 54,00020%
:atson 12,000 20%
1'4,000 1'4,000
Ste 1 Be#$ *-! (a. !oss
(iller 54,000 60% 90,000
yson 54,00020% 20,000
:atson 12,000 20% 60,000
Ste 1 (iller yson :atson
Be#$ Balan+e 54,000 54,000 12,000
ss$ !oss /60 36,000 12,000 12,000
d&$ Balan+e 1',000 42,000 0
Ste 2 Be#$ *-! (a. !oss
(iller 1',000 5% 24,000
yson 42,00025% 16',000
Ste 2 (iller yson
Be#$ Balan+e 1',000 42,000
ss$ !oss /24 1',000 6,000
d&$ Balan+e 0 36,000
irst 64,000!ia"ilities ;eed ore than
;e.t 36,000 yson
;e.t 24,000 5% yson
25% (iller
eainin# 60% yson
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20% (iller
20% :atson
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7/23/2019 Ch.15 Practice Copy
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7/23/2019 Ch.15 Practice Copy
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erris Che+
203,000
22,200
136,'00
44,000
124,000
'2,000
7/23/2019 Ch.15 Practice Copy
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7/23/2019 Ch.15 Practice Copy
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!oan 8ro :hite 9,000
Bla+, Ca 5,00 30% *ersonally Insolvent
:hite, Ca 90030% *ersonally Insolvent
7/23/2019 Ch.15 Practice Copy
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Ste 1 das Baer Carvil Do""s
Be#$ Balan+e 99,000 4',000 4,000 109,000
ss$ !oss /160 32,000 4',000 4',000 32,000
d&$ Balan+e 6,000 0 26,000 ,000
Ste 2 Ca Bal *-! (a. !oss
das 6,000 0 234,500
Carvil 26,000 0 60,66
Do""s ,000 0 269,500
Ste 2 das Carvil Do""s
Be#$ Balan+e 6,000 26,000 ,000
ss$ !oss /6066 1,333 26,000 1,333
d&$ Balan+e 49,66 0 59,66
Ste 3 Ca Bal *-! (a. !oss
das 49,66 1 99,333
Do""s 59,66 1 119,333
Ste 3 das Do""s
Be#$ Balan+e 49,66 59,66
ss$ !oss /99333 49,66 49,66
d&$ Balan+e 0 10,000
Ste 1 Ca Bal *-! (a. !ossdas 99,000 20% 495,000
Baer 4',000 20% 240,000
Carvil 4,000 30% 246,66
Do""s 109,000 30% 363,333
Ste 1 das Baer Carvil Do""s
Be#$ Balan+e 99,000 4',000 4,000 109,000
ss$ !oss /240 4',000 4',000 2,000 2,000
d&$ Balan+e 51,000 0 2,000 3,000
Ste 2 Ca Bal *-! (a. !oss
das 51,000 0 204,000
Carvil 2,000 0 5,333
Do""s 3,000 0 9',66
Ste 2 das Carvil Do""s
Be#$ Balan+e 51,000 2,000 3,000
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ss$ !oss /5333 1,333 2,000 2,000
d&$ Balan+e 49,66 0 35,000
Ste 3 Ca Bal *-! (a. !oss
das 49,66 0 124,16
Do""s 35,000 1 5',334
Ste 3 das Do""s
Be#$ Balan+e 49,66 35,000
ss$ !oss /5'334 23,334 35,000
d&$ Balan+e 26,333 0
Ste 1 Ca Bal *-! (a. !oss
das 99,000 10% 990,000
Baer 4',000 30% 160,000
Carvil 4,000 30% 246,66Do""s 109,000 30% 363,333
Ste 1 das Baer Carvil Do""s
Be#$ Balan+e 99,000 4',000 4,000 109,000
ss$ !oss /160 16,000 4',000 4',000 4',000
d&$ Balan+e '3,000 0 26,000 61,000
Ste 2 Ca Bal *-! (a. !oss
das '3,000 0 5'1,000
Carvil 26,000 0 60,66Do""s 61,000 0 142,333
Ste 2 das Carvil Do""s
Be#$ Balan+e '3,000 26,000 61,000
ss$ !oss /6066 ',66 26,000 26,000
d&$ Balan+e 4,333 0 35,000
Ste 3 Ca Bal *-! (a. !oss
das 4,333 0 29,333
Do""s 35,000 1 46,666
Ste 3 das Do""s
Be#$ Balan+e 4,333 35,000
ss$ !oss /46666 11,66 35,000
d&$ Balan+e 62,66 0
irst 3,000!ia"ilities
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;e.t 62,66 das llo+
;e.t 24,333 das 25% 6,0'3
Do""s 5% 1',250
Ste 1 Ca Bal *-! (a. !ossdas 99,000 10% 990,000
Baer 4',000 30% 160,000
Carvil 4,000 40% 1'5,000
Do""s 109,000 20% 545,000
Ste 1 das Baer Carvil Do""s
Be#$ Balan+e 99,000 4',000 4,000 109,000
ss$ !oss /160 16,000 4',000 64,000 32,000
d&$ Balan+e '3,000 0 10,000 ,000
Ste 2 Ca Bal *-! (a. !oss
das '3,000 0 5'1,000
Carvil 10,000 1 1,500
Do""s ,000 0 269,500
Ste 2 das Carvil Do""s
Be#$ Balan+e '3,000 10,000 ,000
ss$ !oss /1500 2,500 10,000 5,000
d&$ Balan+e '0,500 0 2,000
Ste 3 Ca Bal *-! (a. !oss
das '0,500 0 241,500
Do""s 2,000 1 10',000
Ste 3 das Do""s
Be#$ Balan+e '0,500 2,000
ss$ !oss /10' 36,000 2,000
d&$ Balan+e 44,500 0
irst 3,000 !ia"ilities
;e.t 44,500das 100%
;e.t 10',000das 25%
Do""s 5%
142,500
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Cash 42,000 !ia"ilities 33,000
;on Cash 106,000 oss 4',000
14',000 (il"urn 13,000
hoas '0,000
14',000
Cash ;on Cash !ia"ilities oss
Be#$ Balan+e 42,000 106,000 33,000 4',000
Sale o8 ;onCash 0 106,000 31,'00
!ia"ilities *aid 33,000 33,000
d&$ Balan+e 9,000 0 0 16,200
Ste 1 Ca$ *-! (a. !oss
oss 16,200 0 3,'00
hoas 3,600 1 65,'00
Ste 1 oss hoas
Be#$ Balan+e 16,200 3,600
!oss /3,'00 16,200 21,600
d&$ Bal 0 16,000
Cash ;on Cash !ia"ilities oss
Be#$ Balan+e 42,000 106,000 33,000 4',000
Sale o8 ;onCash 56,000 106,000 0 15,000
!ia"ilities *aid 33,000 33,000d&$ Balan+e 65,000 0 0 33,000
(il"urn Ins$ 0 0 0 12,000
d&$ Balan+e 65,000 0 0 21,000
Sason 15,000 30% Cash 15,000
lin#on 2',000 30%
Carton 11,000 20%
oulan 1',000 20%
Cash !ia"ilities Sason lin#on
Be#$ Balan+e 15,000 35,000 15,000 2',000
S- Insolvent 2,600 2',000
d&$ Balan+e 12,600 0
Cash !ia"ilities Sason lin#on
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Be#$ Balan+e 15,000 35,000 15,000 2',000
Insolvent 6,50 6,50
d&$ Balan+e 15,000 35,000 ',250 34,50
*ays 34,50 34,50
Cash !ia"ilities Sason lin#on
Be#$ Balan+e 15,000 35,000 15,000 2',000
Insolvent 0 0 12,000 2',000
d&$ Balan+e 15,000 35,000 3,000 0
*ays 26,000
Cash 13,000 !ia"ilities 69,000
- '',000 (ar+h 29,000
Inventory '2,000 ril ,000
**-= 40,000 (ay 4',000
Cash 5',000 !oss 24,000
Inventory '2,000
(ar+h ',000ril 12,000
(ay 4,000
!i>uidation =. ',100
Cash ',100
!ia"ilities 42,000
Cash 42,000
Cash 4,000
- 4,000
Cash ;onCash !ia"ilities (ar+h
Be# Bal 6,900 '1,000 1',900 21,000
!oss on **= 0 '1,000 0 2,000
*aid !ia"ilities 1',900 1',900
d&$ Balan+e 49,000 0 0 6,000
7/23/2019 Ch.15 Practice Copy
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7/23/2019 Ch.15 Practice Copy
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Blue
12,900
12,900
0
0
20%
30%
30%
20%
Baer Carvil Do""s
4',000 109,000 109,000
96,000 96,000 64,000
0 0 0
4',000 13,000 45,000
4',000 20,51 13,14
0 ,51 31,2'6
,51 3,'6
0 0 2,500
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7/23/2019 Ch.15 Practice Copy
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7/23/2019 Ch.15 Practice Copy
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otal
6',50
1',250
',000
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30%
30%
40%
(il"urn hoas
13,000 '0,000
31,'00 42,400
44,'00 3,600
44,'00
(il"urn hoas
13,000 '0,000
15,000 20,000
2',000 60,000
2',000 16,000
0 44,000
Carton oulan
11,000 1',000
1',400 1',000
,400 0
Carton oulan
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11,000 1',000 0
4,500 1',000 0
6,500 0 0
0
0
0
Carton oulan
11,000 1',000
',000 ',000
3,000 26,000
26,000
0
1
0
ril (ay
65,000 44,000 0
40,500 13,500 0
0
24,500 30,500 0
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