Bell

Hardy
Dennard
Suddath

113,500 40%
94,000 30%
9,000 20%
105,000 10%

Creditors

46,000

Assets
Liabilities

550,000
350,000

Beg Bal.
Loss
Adj. Bal.
Dennard
Min $

Insolvent

Loss

235,000

Bell
Hardy
Dennard
Suddath
113,500
94,000
9,000
105,000
94,000
70,500
47,000
23,500
19,500
23,500
38,000
81,500
19,000
14,250
38,000
4,750
500
9,250
0
76,750

Carney
Pierce
Menton
Hoehn

80,000 40%
33,000 30%
63,000 20%
26,000 10%

Step 1
Carney
Pierce
Menton
Hoehn

Cap. Bal P/L

80,000 40%
33,000 30%
63,000 20%
26,000 10%

Max Loss
200,000
110,000
315,000
260,000

Step 1
Carney
Pierce
Menton
Hoehn
Beg. Bal
80,000
33,000
63,000
26,000
Ass. Loss (110K)
44,000
33,000
22,000
11,000
Adj. Balance
36,000
0
41,000
15,000
Step 2
Carney
Menton
Hoehn

Cap. Bal P/L

80,000
63,000
26,000

1
0
0

Max Loss
140,000
220,500
182,000

Step 2
Carney
Menton
Hoehn
Beg. Bal
80,000
63,000
26,000
Ass. Loss (140K)
80,000
40,000
20,000
Adj. Balance
0
23,000
6,000
Step 2
Menton
Hoehn

Cap. Bal P/L

63,000
26,000

Step 2
Beg. Bal
Ass. Loss (78K)
Adj. Balance

Menton
Hoehn
63,000
26,000
52,000
26,000
11,000
0

Atkinson
Kaporale
Dennsmore
Rasputin

68,000 40%
28,000 30%
50,000 20%
46,000 10%

Step 1
Atkinson
Kaporale
Dennsmore
Rasputin

68,000 40%
28,000 30%
50,000 20%
46,000 10%

Beg. Balance
Contribution
Adj. Balance
Both Insolvent
Adj. Balance

Cash
Other Assets
Hardwick, Loan

Max Loss
1
94,500
0
78,000

170,000
93,333
250,000
460,000

Atkinson Kaporale
Dennsmore Rasputin
68,000
28,000
50,000
46,000
26,000
68,000
28,000
50,000
20,000
40,000
30,000
50,000
20,000
28,000
2,000
0
0

82,000
760,000
33,000
875,000

A/P
Ferris, Loan
Hardwick
Saunders
Ferris

232,000
43,000
270,000 40%
170,000 30%
160,000 30%

875,000

Beg. Balance
Sold Assets
Assumed Loss
Paid Liabilities
Safe Balance

Cash
Other Assets

Cash
Other Ass
82,000
760,000
230,000
304,000
0
456,000
232,000
80,000
0

A/P
Hardwick Saunders
232,000
237,000
170,000
0
29,600
22,200
0
182,400
136,800
232,000
464,000
25,000
11,000

42,000 Liabilities
142,000 Miller
Tyson
Watson
184,000

64,000
54,000 60%
54,000 20%
12,000 20%
184,000

Step 1
Miller
Tyson
Watson

Beg.
P/L
54,000 60%
54,000 20%
12,000 20%

Step 1
Beg. Balance
Ass. Loss (60K)
Adj. Balance

Miller
Tyson
Watson
54,000
54,000
12,000
36,000
12,000
12,000
18,000
42,000
0

Step 2
Miller
Tyson

Beg.
P/L
18,000 75%
42,000 25%

Step 2
Beg. Balance
Ass. Loss (24K)
Adj. Balance

Miller
Tyson
18,000
42,000
18,000
6,000
0
36,000

First
Next
Next
Remaining

64,000 Liabilities
36,000 Tyson
24,000 75%
25%
60%

Max Loss
90,000
270,000
60,000

Max Loss
24,000
168,000

Need more than

Tyson
Miller
Tyson

20%
20%

Miller
Watson

Ferris
203,000
22,200
136,800
44,000

124,000
82,000

Check

Loan from White

Black, Cap
White, Cap
Green, Cap
Brown, Cap
Blue, Cap

9,000
5,700 30%
900 30%
3,900 10%
12,000 20%
12,900 10%

Black
Beg. Bal
Ins. (Green, Blue)
Adj. Balance
Ins. (Black)
Adj. Balance

Cash
Land
Building

Beg. Balance
Loss of Non$
Laibilities
Adj. Balance
Baker Insolvent
Adj. Balance
Carvil Insolvent
Adj. Balance

Step 1
Adams
Baker
Carvil
Dobbs

Personally Insolvent
Personally Insolvent

Personally Insolvent

White
5,700
6,900
1,200
1,200
0

Green
900
900
0
0

47,000
165,000
155,000
367,000

Brown
3,900
2,300
6,200
400
6,600

Liabilities
Adams
Baker
Carvil
Dobbs

37,000
99,000
48,000
74,000
109,000
367,000

Cash
Non Cash Liabiliites
Adams
47,000
320,000
37,000
0
320,000
37,000
0
37,000
10,000
0
0
10,000

10,000

Cap Bal
P/L
99,000 20%
48,000 30%
74,000 30%
109,000 20%

12,000
4,600
7,400
800
6,600

Max Loss
495,000
160,000
246,667
545,000

99,000
64,000
0
35,000
13,714
21,286
3,786
17,500

Step 1
Beg. Balance
Ass. Loss (160)
Adj. Balance

Adams
Baker
Carvil
Dobbs
99,000
48,000
74,000
109,000
32,000
48,000
48,000
32,000
67,000
0
26,000
77,000

Step 2
Adams
Carvil
Dobbs

Cap Bal
P/L
67,000
26,000
77,000

Max Loss
0
234,500
0
60,667
0
269,500

Step 2
Adams
Carvil
Dobbs
Beg. Balance
67,000
26,000
77,000
Ass. Loss (60667)
17,333
26,000
17,333
Adj. Balance
49,667
0
59,667
Step 3
Adams
Dobbs

Cap Bal
P/L
49,667
59,667

Max Loss
1
99,333
1
119,333

Step 3
Adams
Dobbs
Beg. Balance
49,667
59,667
Ass. Loss (99333)
49,667
49,667
Adj. Balance
0
10,000
Step 1
Adams
Baker
Carvil
Dobbs

Cap Bal
P/L
99,000 20%
48,000 20%
74,000 30%
109,000 30%

Max Loss
495,000
240,000
246,667
363,333

Step 1
Beg. Balance
Ass. Loss (240)
Adj. Balance

Adams
Baker
Carvil
Dobbs
99,000
48,000
74,000
109,000
48,000
48,000
72,000
72,000
51,000
0
2,000
37,000

Step 2
Adams
Carvil
Dobbs

Cap Bal
P/L
51,000
2,000
37,000

Step 2
Beg. Balance

Adams
Carvil
Dobbs
51,000
2,000
37,000

Max Loss
0
204,000
0
5,333
0
98,667

Ass. Loss (5333)

Adj. Balance
Step 3
Adams
Dobbs

1,333
49,667

2,000
0

2,000
35,000

0
1

Max Loss
124,167
58,334

Cap Bal
P/L
49,667
35,000

Step 3
Adams
Dobbs
Beg. Balance
49,667
35,000
Ass. Loss (58334)
23,334
35,000
Adj. Balance
26,333
0
Step 1
Adams
Baker
Carvil
Dobbs

Cap Bal
P/L
99,000 10%
48,000 30%
74,000 30%
109,000 30%

Max Loss
990,000
160,000
246,667
363,333

Step 1
Beg. Balance
Ass. Loss (160)
Adj. Balance

Adams
Baker
Carvil
Dobbs
99,000
48,000
74,000
109,000
16,000
48,000
48,000
48,000
83,000
0
26,000
61,000

Step 2
Adams
Carvil
Dobbs

Cap Bal
P/L
83,000
26,000
61,000

0
0
0

Max Loss
581,000
60,667
142,333

Step 2
Adams
Carvil
Dobbs
Beg. Balance
83,000
26,000
61,000
Ass. Loss (60667)
8,667
26,000
26,000
Adj. Balance
74,333
0
35,000
Step 3
Adams
Dobbs

Cap Bal
P/L
74,333
35,000

Max Loss
0
297,333
1
46,666

Step 3
Adams
Dobbs
Beg. Balance
74,333
35,000
Ass. Loss (46666)
11,667
35,000
Adj. Balance
62,667
0
First

37,000 Liabilities

Next
Next

62,667 Adams
24,333 Adams
Dobbs

Alloc
25%
75%

6,083
18,250

Step 1
Adams
Baker
Carvil
Dobbs

Cap Bal
P/L
99,000 10%
48,000 30%
74,000 40%
109,000 20%

Max Loss
990,000
160,000
185,000
545,000

Step 1
Beg. Balance
Ass. Loss (160)
Adj. Balance

Adams
Baker
Carvil
Dobbs
99,000
48,000
74,000
109,000
16,000
48,000
64,000
32,000
83,000
0
10,000
77,000

Step 2
Adams
Carvil
Dobbs

Cap Bal
P/L
83,000
10,000
77,000

Max Loss
0
581,000
1
17,500
0
269,500

Step 2
Adams
Carvil
Dobbs
Beg. Balance
83,000
10,000
77,000
Ass. Loss (17500)
2,500
10,000
5,000
Adj. Balance
80,500
0
72,000
Step 3
Adams
Dobbs

Cap Bal
P/L
80,500
72,000

Max Loss
0
241,500
1
108,000

Step 3
Adams
Dobbs
Beg. Balance
80,500
72,000
Ass. Loss (108K)
36,000
72,000
Adj. Balance
44,500
0
First
Next
Next

37,000 Liabilities
44,500 Adams
108,000 Adams
Dobbs
142,500

100%
25%
75%

Cash
Non Cash

42,000
106,000
148,000

Liabilities
Ross
Milburn
Thomas

33,000
48,000
13,000
80,000
148,000

Cash
Non Cash Liabilities
Ross
Beg. Balance
42,000
106,000
33,000
Sale of NonCash
0
106,000
Liabilities Paid
33,000
33,000
Adj. Balance
9,000
0
0

Step 1
Ross
Thomas

Cap.
P/L
16,200
37,600

Step 1
Beg. Balance
Loss (37,800)
Adj. Bal

Ross
Thomas
16,200
37,600
16,200
21,600
0
16,000

Beg. Balance
S/R Insolvent
Adj. Balance

15,000 30%
28,000 30%
11,000 20%
18,000 20%

16,200

Max Loss
0
37,800
1
65,800

Cash
Non Cash Liabilities
Ross
Beg. Balance
42,000
106,000
33,000
Sale of NonCash
56,000
106,000
0
Liabilities Paid
33,000
33,000
Adj. Balance
65,000
0
0
Milburn Ins.
0
0
0
Adj. Balance
65,000
0
0

Sampson
Klingon
Carton
Romulan

48,000
31,800

Cash

48,000
15,000
33,000
12,000
21,000

15,000

Cash
Liabilities Sampson
Klingon
15,000
35,000
15,000
28,000
27,600
28,000
12,600
0
Cash

Liabilities

Sampson

Klingon

Beg. Balance
R Insolvent
Adj. Balance
K Pays

Beg. Balance
K Insolvent
Adj. Balance
R Pays

15,000

35,000

15,000
34,750

35,000

13,000
88,000
82,000
40,000

Cash
Inventory
March
April
May

58,000

Liabilities
March
April
May

69,000
29,000
77,000
48,000

Loss

24,000

82,000
8,000
12,000
4,000
8,100
8,100

Liabilities
Cash

42,000

Cash
A/R

47,000

Beg Bal
Loss on PPE
Paid Liabilities
Adj. Balance

28,000
6,750
34,750
34,750

Cash
Liabilities Sampson
Klingon
15,000
35,000
15,000
28,000
0
0
12,000
28,000
15,000
35,000
3,000
0
26,000

Cash
A/R
Inventory
PP/E

Liquidation Exp
Cash

15,000
6,750
8,250

42,000

47,000
Cash
NonCash Liabilities
March
67,900
81,000
18,900
0
81,000
0
18,900
18,900
49,000
0
0

21,000
27,000
6,000

Blue
12,900
12,900
0
0

20%
30%
30%
20%

Baker

Carvil
Dobbs
48,000 109,000
109,000
96,000
96,000
64,000
0
0
0
48,000
13,000
45,000
48,000
20,571
13,714
0
7,571
31,286
7,571
3,786
0
0
27,500

Total
68,750
18,250
87,000

30%
30%
40%

Milburn
Thomas
13,000
80,000
31,800
42,400
44,800
44,800

37,600

Milburn
Thomas
13,000
80,000
15,000
20,000
28,000
28,000
0

60,000
16,000
44,000

Carton
Romulan
11,000
18,000
18,400
18,000
7,400
0
Carton

Romulan

11,000
4,500
6,500

18,000
18,000
0

0
0
0
0
0
0

Carton
Romulan
11,000
18,000
8,000
8,000
3,000
26,000
26,000

0
1
0

April
65,000
40,500

May
44,000
13,500

24,500

30,500

0
0
0
0