Nomore Co.

, Debtor
Ever Reddy, Trustee
Statement of Realization and Liquidation
For Month Ended December 31, 2014

Assets
Assets to be realized: Assets realized:
(1) Marketable securities P 75,000 (3) Marketable securities P 92,500
(1) Accounts receivable 150,000 (3) Accounts receivable 57,500
(1) Merchandise 250,000 Assets not realized:
Assets acquired: (4) Accounts receivable 110,000
(1) Accounts receivable 25,000 (4) Merchandise 100,000
 Liabilities
Liabilities liquidated: Liabilities to be liquidated:
(3) Accounts payable 175,000 (1) Accounts payable 325,000
Liabilities not liquidated: Liabilities assumed:
(4) Accounts payable 157,500 (2) Accounts payable 7,500
(4) Accrued expenses 1,750

Revenues and Expenses

Supplementary charges: Supplementary credits:
(2) Purchases 7,500 (2) Sales on account 25,000
(3) Payment of (3) Interest on trading
Expenses of trustee 37,500 securities 750
(3) Sales for cash 125,000
P 843,250
(5) Net loss 36,000
Total P 879,250 Total P 879,250
 Nomore Co., Debtor
Ever Reddy, Trustee
Supplementary Schedules to Accompany Statement of Realization and Liquidation
For Month Ended December 31, 2014
Cash
2014 2014
Dec. 1 (1) Balance P 25,000 Dec. 1-31 (2) Payment of
1-31 (3) Cash sales of mdse. 125,000 accounts payable P175,000
(3) Collections on (2) Payment of
accounts receivable 57,500 expenses of
(3) Proceeds from sale of trustee 37,500
marketable securities 92,500 Dec. 31 Balance 88,250
(3) Collections of interest
on trading securities 750
P300,750 P300,750
2015
Jan. 1 Balance P 88,250
 Share Capital
2014
Dec. 1 (1) Balance P 250,000

Retained Earnings
2014 2014

Dec. 1 (1) Balance P 75,000 Dec. 31 Balance P 111,000

(5) Net Loss for Dec. 36,000

P 111,000 P 111,000

2015

Jan. 1 Balance P 111,000

ASSETS: LOSS OR
GAIN
ASSETS TO BE P 455,000 ASSETS REALIZED P 94,750
REALIZED
ASSETS ACQUIRED 9,000 ASSETS NOT REALIZED 277,250

P 464,000 P 372,000 P 92,000

LIABILITIES:

LIABILITIES NOT P 275,000 LIABILITIES TO BE P 275,000 0

LIQUIDATED LIQUIDATED

REVENUES AND
EXPENSES:
SUPPLEMENTARY P 10,750 SUPPLEMENTARY CREDIT P 129,000 (118,250)
CHARGES
TOTAL GAIN P 26,250