Jessup Company was founded in Year 1. It acquired $45,000 cash by issuing stock to investors and an additional $15,000 cash by borrowing from creditors. During Year 1 it received $25,000 cash revenues and paid $32,000 in cash expenses. The company then went out of business.Required: a) Explain the term, "business liquidation."b) What amount of cash should Jessup Company have had on hand immediately before going out of business?c) What amount of cash will Jessup's creditors receive?d) What amount of cash will Jessup's stockholders receive?
What will be an ideal response?
a) Liquidation is the process of dividing up assets and allocating them to resource providers (creditors and investors).
b) Amount of cash on hand = $53,000
c) $15,000
d) $38,000
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While most public procurement is focused on goals similar to those of purchasing departments in the private sector, U.S. federal government purchases must comply with the:
a. Federal Acquisition Regulation b. Fair Standards and Equitable Purchases Act c. Federal Code of Conduct for Procurement d. Services and Materials Acquisition Act
Write the whole number in numerical and word form: 7522
What will be an ideal response?
A ________ is a strike technique that moves a strike against an employer from location to location so that hiring replacement workers becomes more difficult
a. lockout
b. rolling strike
c. closed shop
d. cheap rider