You calculate Liquidation Value using the sheets in the Appraisal \ Asset Approach \ Liquidation Value folder.
You adjust the balance sheet to liquidation value using the Adjust to Liquidation Value worksheet. Enter the adjustments in the center column. The adjustment to Total Equity is calculated automatically.
The value indicated by the Liquidation Value method is calculated on the Indicated Value worksheet. The Asset Approach Assumptions determine if adjustments are applied to the indicated value.