Corporate Liquidation - Statement of Affairs (Introduction)

Statement of Affairs (Introduction)
Textbook used: Advanced Financial Accounting Volume 1 2016 Edition by Mr. Antonio J. Dayag
#CorporateLiquidation #StatementofAffairs

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This is the best discussion I've watched so far. Thanks sir💞💞💞

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Thanks din, Patricia 🙂 We hope this video will help you ❤️ Mag aral nang mabuti 🙂

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Preboard examination namin today and this video really helped me a lot. God bless you po for sharing your knowledge.

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Hi Judy! Thanks! Goodluck sa preboard exams!

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Thank you po for this video lecture, napaka informative at clear po ang explanation ♥️♥️

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You're welcome, missy ♥️ glad it helps. Mag aral nang mabuti 🙂

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Naalala ko pa instructor nmin sa AFAR noon, d n nga pumapasok nag failed pa ng mga estudyante niya. Kalahati sa klase nmin d nakapasa. Shout out don. Char. Sir sobrang liwanag niyo po mag explain. Himay kung himay tlga. ang swerte ng mga estudyante ngayon ksi may mga ganitong lectures n sa YT. Sna po ma topic niyo rin ung Home Office and Branch dahil halos laht ng kabatch ko takot na takot kpg naririnig ung topic n un.

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Maraming salamat Nobu. Sana makatulong ito sa iyo. Mag aral nang mabuti. Sana nakakatulong ito sa mga students, lalo na sa mga aspiring CPAs.
Magandang topic 'yan Home Office and Branch. Actually gawa na ang materials namin about sa topic na 'yan. Gagawin na lang namin 'yung video kapag medyo hindi na busy sa work.

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Thank you so much Sir. Napakadali po ng pagkakaturo! May God bless you po!

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You're welcome, Chlarissa 🙂 Mag aral nang mabuti. God bless ❤️

[@jeanroserazon7485]

Malaking tulong po ang vidlec na to. Madali pong maintindihan dahil clear po yung explanation. Thank you po Sir! ❤️

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You're welcome, jean 🙂 glad it is helpful. Mag aral nang mabuti ♥️

[@jaybertlijr.4817]

Helpful talaga lalo na ngayon na online class. More power sayo Sir!

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Salamat. Keep safe ♥️♥️

[@eunicemicahelasalazar3731]

sobrang saya ko na nakita ko tong video mo sir sobrang nakakatulong thank you po keep up the good work po ang linaw nyo po mag explain

[@FilipinoAccountingTutorial]

Hi Micah! Salamat! More videos pa soon sa channel!

[@ricozacarias]

Thank you po for this. Ang laking tulong po. Sana may tutorial din for partnership liquidation.

[@FilipinoAccountingTutorial]

Hi Rico! Thanks. Noted ito. Ongoing na kami sa discussion ng partnership.

[@janetadjas3427]

Thank You for this vidlect Sir, big help po to understand a corporate liquidation topic...Ingats and more power❣️

[@FilipinoAccountingTutorial]

You're welcome, janet 🙂 glad it helps. Mag aral nang mabuti and ingat and stay safe and more power to you too ♥️

[@gandaganda2418]

Pwede din po bang gamitin yung liquidation value pag walang nrv po o book value na po gagamitin non?

[@jamflores3471]

Please keep making videos po, super big help 😊

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Welcome Jam!

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Thank you po Sir sa video lecture, ang laking tulong po neto para maintindihan 'yung lesson namin

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You're welcome, nimfa 🙂 masaya kami makatulong ♥️ mag aral nang mabuti 🙂

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Thank you , Sir. Naging malinaw po ang discussion at madaling intindihin.

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[@rodelyntoquero8801]

Thank u po, nakapa informative po ng video lecture nyo💕

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You're welcome, rodelyn 🙂 hope this video lecture will help you. Mag aral nang mabuti ♥️

[@charlespauldulce1569]

Thank you po, ang linaw niyo po mag explain!

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You're welcome, charles 🙂 hope this video lecture will help you. Mag aral nang mabuti ♥️

[@josepharnigo4256]

Thank you for this vidlec. Ang galing niyo po mag explain, Sir

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You're welcome, joseph 🙂 hope this video lecture will help you. Mag aral nang mabuti ♥️

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thank you so much, Sir! more power po sa channel

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You're welcome, jenzel 🙂 more to power to you too and mag aral nang mabuti ♥️

[@apriljoyceabuyog1017]

may vid po ba kayo tungkol sa statement of realization and liquidation corporation? thank you po.

[@hyannaalvarez745]

Thank you for this video lecture po very clear and informative.

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You're welcome, hyanna 🙂 hope this video will help you. Mag aral nang mabuti ♥️

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Thank you for this vidlec po super big help!

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You're welcome, althea ♥️ glad it helps. Mag aral nang mabuti 🙂

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thank you for this video lecture po💞

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You're welcome, angelica 🙂 hope this video lecture will help you ♥️

[@siobhan.margarette]

Thank you po for this vidlec, sir!

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You're welcome, abby 🙂 hope this video lecture will help you. Mag aral nang mabuti ♥️

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Thank you, Sir 💗. Congrats po sa 102K subs

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Thanks too, Joerene. Mag aral nang mabuti 🧡

[@carlcalderon4494]

Joerene Gallo Hello

[@alexyz3211]

applicable po ito sa govt liquidation?

[@trixgumatay4898]

Hello po! Hindi po 0 nrv ng patent din po dahil intangible asset po?

[@deidreijoiandaya8653]

Thank you po ❤

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You're welcome, deidrei 🙂 hope this video will help you ♥️

[@jhonandrewbautista4644]

Super helpful vid po 😁

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Thanks, jhon. Glad it is helpful ♥️ mag aral nang mabuti 🙂

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Salmat po sa videos

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Welcome Eric!

[@mahalkitaa2ndaccountsalaba28]

Sir pwede pahelp po na maintindihan itong problem...thank you...
Rainy Co.'s financial position before its liquidation is as follows:
ASSETS:
Cash- 100,000
A/R- 600,000
Inventory- 900,000
Equipment- 400,000
Total- 2,000,000
Liabilities and Equity
A/P- 1,600,000
Loan P.- 1,500,000
Share Capital- 2,000,000
Retained Earnings- (3,100,000)
Total- 2,000,000
Transactions in the first quarter of liquidation are as follows:
90% of the accounts receivable were collected. Commission of third party collectors amounted to P108,000. The collectors expect to collect the remaining receivables in the next quarter.
• Half of the inventory was sold at 80% of carrying amount. The other half is expected to be sold at 60% of carrying amount.
The equipment was sold for 380,000 after it was refurbished for 50,000.
100,000 accounts payable were paid.
Employee termination benefits of 100,000 were recorded and 80,000 of that amount were paid.
The lender accepted 1,000,000 as full payment of the loan.
Liquidation costs of 50,000 were paid.
Scrap materials from clearing the warehouse were sold for 10,000.
Questions:
-Assets realized (1,122,000)
-Gain/loss
-ending bal. of cash

[@johnpaullara8820]

Hello po, if the problem is silent, assumed po ba na 0 ang realizable value ng prepayments?

[@FilipinoAccountingTutorial]

Hello John Paul. Yes, 0 if silent.

[@johnpaullara8820]

@@FilipinoAccountingTutorial Thank you po. :)

[@ianreymardelacruz8469]

What if po hindi sapat yong free assets para sa liab with priority?

[@jefreyng319]

parang impossible mangyari yun sa problem kase laging 100% dapat ang liability w/priority :)

[@FilipinoAccountingTutorial]

Hi Ian! In case na hindi sapat for liabilities with priority. Ang order ng priority ay 1. Salaries and benefits ng employees, 2. Legal expenses, 3. Taxes. Thanks!

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❤

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🙇‍♂️♥️

[@gemyrson_alotinto]

Thanks po sana merong sole proprietorship journal entries

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Hi Sai! Meron dito discussion ng journal entries for sole proprietorship. Hope it helps. Thanks!

[@gemyrson_alotinto]

Ano pong title

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@@gemyrson_alotinto Basic Accounting Accounting cycle Step 2. Hope it helps!

[@gemyrson_alotinto]

Thanks a lot po

[@gerveofficialgamer7636]

Sir, request po sa CORPORATION

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Hi Gerve! Sure, noted ito.

[@claudettepasion1976]

Kuya magstart po kayo sana sa Chapter I ng Intermediate Accounting II

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Hi Claudette! Macocover din ang topics under intermediate accounting 2 soon. Thanks!

[@maryjoyalegria9182]

Pwede po about accounting for cooperation? Hehe thank you po 😊

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Hi Maryjoy! gagawan din nmin yan soon

[@zgalvez6711]

Installment sales please!!

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Hi Zel! Nice suggestion but could you give us the name ng book na ginagamit nyo?

[@zgalvez6711]

Filipino Accounting Tutorial Advance Acounting 1 by Guerrero po. Huhu!! TIA po!!!

[@mahalkitaa2ndaccountsalaba28]

salamat po sa vid

[@FilipinoAccountingTutorial]

Walang anuman Jean 💛

[@mahalkitaa2ndaccountsalaba28]

@@FilipinoAccountingTutorial sir pwede po pahelp na maintindihan itong problem...thank you...
Rainy Co.'s financial position before its liquidation is as follows:
ASSETS:
Cash- 100,000
A/R- 600,000
Inventory- 900,000
Equipment- 400,000
Total- 2,000,000
Liabilities and Equity
A/P- 1,600,000
Loan P.- 1,500,000
Share Capital- 2,000,000
Retained Earnings- (3,100,000)
Total- 2,000,000
Transactions in the first quarter of liquidation are as follows:
90% of the accounts receivable were collected. Commission of third party collectors amounted to P108,000. The collectors expect to collect the remaining receivables in the next quarter.
• Half of the inventory was sold at 80% of carrying amount. The other half is expected to be sold at 60% of carrying amount.
The equipment was sold for 380,000 after it was refurbished for 50,000.
100,000 accounts payable were paid.
Employee termination benefits of 100,000 were recorded and 80,000 of that amount were paid.
The lender accepted 1,000,000 as full payment of the loan.
Liquidation costs of 50,000 were paid.
Scrap materials from clearing the warehouse were sold for 10,000.
Questions:
-Assets realized (1,122,000)
-Gain/loss
-ending bal. of cash

[@bangpusi69]

7:20 😂

[@FilipinoAccountingTutorial]

Gelimar! Haha!