Mandich Co. had the following amounts for its assets, liabilities, and stockhold
ID: 2491335 • Letter: M
Question
Mandich Co. had the following amounts for its assets, liabilities, and stockholders' equity accounts just before filing a bankruptcy petition and requesting liquidation: Picture Of the salaries payable, $30,000 was owed to an officer of the company. The remaining amount was owed to salaried employees who had not been paid within the previous 80 days: John Webb was owed $10,600, Samantha Jones was owed $15,000, Sandra Johnson was owed $11,900, and Dennis Roberts was owed $2,500. The maximum owed for any one employee's claims for contributions to benefit plans was $800. Estimated expense for administering the liquidation amounted to $40,000. On a statement of financial affairs, what amount would have been shown as assets available to pay liabilities with priority and unsecured creditors?
a. 660,000
b. 390,000
c. 495,000
d. 799,000
e. 445,000
Explanation / Answer
ANSWER IN $660000
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