Question & Answer: e C D New Tab Apps G Aprivate not-for-pr Campewhitney shared folder Oregon Corporation has filed a voluntary petition to rec…..

e C D New Tab Apps G Aprivate not-for-pr Campewhitney shared folder Oregon Corporation has filed a voluntary petition to recrganize under Chapter 11 of the Bankruptcy Roform Act. Its creditors are considering an attempt to force liquidation. The company currenty holds cash of $29,000 and accounts recelvable of S48.000. In addition, the company owns four plots of land. The first two (abeled A and B) cost $31,000 each Plots C and D cost the company $43,000 and $48,000, respectively A mortgage lien is attached to each parcel of land as security for four different notes payable of $38,000 each. Presently, the land can be sold for the following Plot A Plot B Plot C Plot D $39,000 34,000 $37,000 $73,000 Another $45,000 note paryable is unsecured. Accounts payable at this time total $78,000. Of this amount. $24.000 is salary owed to the company’s workers. No employee is due more than $5,700 The company expects to collect $35,000 from the accounts receivable if liquidation becomes necessary Administrative expenses required for lquidation are anticipated to be $68720 a. Prepare a statement of financial affairs for Oregon Corporation Avaiable for Book Values Assets Creditors Pledged with Fuly Secured Credintors: and (Plots A and D) Pledged with Partialy Secured Creditors Free Assets Total avalable to pay labilities wim priorsy and unsecured credeors Available for unsecured creditors Estimated deficlency Book Values Liabiliies and Stockholders’ Equity Liabiaties Liablties with Priority Total Fully Secured Creditors Partially Secured Credtors Type here to search