Advanced Accounting: Corporate Liquidation summary with formula

Asset Pledged to Fully Secured Creditors xx
Fully Secured Liabilities (xx)
Free Asset Portion xx
Free Assets Unpledged xx
Total Free Assets xx
Unsecured Liabilities with Priority (xx)
Net Free Assets xx

Net Free Assets = Amount available to pay unsecured liabilities without priority.

Unsecured Liabilities without Priority:

1. Liquidation Expense/Admin Expense
2. Salaries
3. Taxes

Partially Secured Liabilities xx
Asset Pledged (xx)
Unsecured Liability Portion xx
Unsecured Liability without Priority xx
Total Unsecured Liabilities xx

Rate of Recovery = Dividend per peso claim
= Net Free Assets / Total Unsecured Liabilities

Assets @ Net Realizable Value xx
Liabilities @ Book Value (xx)
Estimated Deficiency to Creditors xx

Asset @ Book Value xx
Liab @ Book Value (xx)
Estate Equity Beg xx
Gain on Realization xx
Loss on Realization (xx)
Unrecorded Liabilities (xx)
Estate Deficit End xx