John wants to dissolve his business.His balance sheet shows assets with a value of $250,000 in total. Liabilities are shown at 200,000 leaving equity of $50,000 for John.He only expects to get $180,00,000 for his assets when he sells them because some fixed assets are old and some accounts receivable will go uncollected.He would like to take his equity of $50,000 and leave the rest of the proceeds of the sale to pay his creditors. Can he do this? Can anyone please help with this?
https://trustedpaperwriters.com/wp-content/uploads/2019/12/157544039158860773-300x54.png 0 0 Steve Kamau https://trustedpaperwriters.com/wp-content/uploads/2019/12/157544039158860773-300x54.png Steve Kamau2021-06-13 02:33:122021-06-13 02:33:12John wants to dissolve his business.His balance sheet shows assets with a value of $250,000 in tota 1 answer below »