Statement of affairs

Statement of affairs

1. Statement of Affairs
Statement of affairs shows the insolvents financial position and the status of the creditors with respect to the
insolvents assets

Asset on the statement of affairs
• Asset pledged with fully secured creditors
• Asset pledged with partially secured
creditors
• Free assets

Liabilities and capital on the statement of affairs:
• Fully secured creditors
• Partially secured creditors
• Creditors with priority
• Unsecured creditors
SOAL1
Nilai tercatat dan estimasi nilai wajar untuk aktiva dan ekuitas Mt Merapi Corp pada tanggal 31 oktober
2010 adalah sebagai berikut:
Account Book Value Realizable Value
Kas
Piutang usaha (net)
Persediaan
Tanah dan bangunan (net)
Peralatan (net)
$14,700
65,000
75,000
190,000
340,000
$ 14,700
52,000
40,000
120,000
180,000
Total $684,700 $ 406,700
Account Book Value
Utang usaha
Utang Gaji (semua memiliki prioritas)
Wesel Bayar (dijamin oleh piutang)
Wesel bayar (dijamin oleh persediaan)
Wesel bayar (dijamin oleh peralatan)
Utang Oblgasi (dijamin oleh tanah dan bangunan)
Saham biasa
Laba ditahan (defisit)
$105,000
24,000
40,000
80,000
150,000
200,000
160,000
(74,300)
Total $684,700
Diminta:
a. buatlah statement of affairs Mt. Merapi Corp
b. hitunglah persentase dividen ke kreditor tidak dijamin

SOAL2
HBD Corp mengalami kesulitan keuangan dan akan dilakukan likuidasi atas perusahaan tersebut. Book value
dan realizable value atas asset HBD corp tersebut per 30 desember 2009 sebagai berikut:
Account Book Value Realizable Value
Cash
Account Receivable (net)
Inventory
Tanah dan bangunan (net)
Peralatan (net)
$29,400
130,000
150,000
380,000
680,000
$29,400
104,000
80,000
240,000
360,000
Total $1,369,400 $ 813,400
Account Book Value
Account Payable
Wages Payable
Notes Payable*
Bonds Payable (dijamin dengan tanah dan bangunan)
Common Stock
Retained Earning
$210,000
48,000
540,000
400,000
320,000
(148,600)
Total $ 1,369,400
* $80,000 dijamin dengan A/R, $160,000 dijamin dengan invenory, dan sisanya dijamin dengan peralatan
Diminta:
a. buatlah statement of affairs HBD Corp
b. hitunglah persentase dividen ke kreditor tidak dijamin

2. MT MERAPI CORP
STATEMENT OF AFFAIRS
October 31, 2010

ASSET
Book Value Activities
Est Current
Value
Est Amt Avail to
unsecured Claims
Est G/L on
Realization
Asset Pledged with FULLY secured creditors
$65,000 Account Receivable
Less: Notes Payable
$52,000
(40,000)

$12,000
$(13,000)
$340,000 Equipment
Less: Notes Payable
180,000
(150,000)

30,000
(160,000)
Asset Pledged with PARTIALLY secured Creditors
75,000 Inventory
Less: Notes Payable
40,000
(80,000)

-
(35,000)
190,000 Land and Building
Less: Bond Payable
120,000
(200,000)

-
(70,000)
FREE ASSET
14,700 Cash 14,700
Estimated Amount Available
Less: Priority Liabilities
$56,700
(24,000)

NET AVAILABLE TO UNSECURED CREDITORS
Estimated Defficiency
$32,700
192,300

$ 684,700 TOTAL UNSECURED CLAIMS $225,000 $(278,000)


EQUITY
Book Value Activities
Est Current
Value
Est Amount
Unsecured
FULLY Secured Creditrs
$190,000 Notes Payable $190,000
PARTIALLY Secured Creditors
80,000 Notes Payable
Less: Inventory
80,000
(40,000)

$40,000
200,000 Bond Payable
Less: Land
200,000
(120,000)

80,000
Creditors with PRIORITY
24,000 Salaries Payable 24,000
UNSECURED Creditors
105,000 Account Payable 105,000
STOCKHOLDERS EQUITY
160,000
(74,300)
Common Stock
Retained Earning (Deficit)

$ 684,700 Carry Up to Asset Section $ 225,000


Persentase Payment to unsecured Creditors

$ 32,700 / $ 225,000 = 14,53%

3. HBD CORP
STATEMENT OF AFFAIRS
December 31, 2009

ASSET
Book Value Activities
Est Current
Value
Est Amt Avail to
unsecured Claims
Est G/L on
Realization
Asset Pledged with FULLY secured creditors
$130,000 Account Receivable
Less: Notes Payable
$104,000
(80,000)

$24,000
$(26,000)
$680,000 Equipment
Less: Notes Payable
360,000
(300,000)

60,000
(320,000)
Asset Pledged with PARTIALLY secured Creditors
150,000 Inventory
Less: Notes Payable
80,000
(160,000)

-
(70,000)
380,000 Land and Building
Less: Bond Payable
240,000
(400,000)

-
(140,000)
FREE ASSET
29,400 Cash 29,400
Estimated Amount Available
Less: Priority Liabilities
$113,400
(48,000)

NET AVAILABLE TO UNSECURED CREDITORS
Estimated Defficiency
$65,400
384,600

$ 1,369,400 TOTAL UNSECURED CLAIMS $450,000 $(556,000)


LIABILITIES & EQUITY
Book Value Activities
Est Current
Value
Est Amount
Unsecured
FULLY Secured Creditrs
$380,000 Notes Payable $380,000
PARTIALLY Secured Creditors
160,000 Notes Payable
Less: Inventory
160,000
(80,000)

$80,000
400,000 Bond Payable
Less: Land and Building
400,000
(240,000)

160,000
Creditors with PRIORITY
48,000 Wages Payable 48,000
UNSECURED Creditors
210,000 Account Payable 210,000
STOCKHOLDERS EQUITY
320,000
(148,600)
Common Stock
Retained Earning (Deficit)

$ 1,369,400 Carry Up to Asset Section $ 450,000


Persentase Payment to unsecured Creditors

$ 65,400 / $ 450,000 = 14,53%