9. 5.00 points value Brenda\'s Bar and Grill has total assets of $10.0 million,

Question

9. 5.00 points value Brenda's Bar and Grill has total assets of $10.0 million, of which $3.0 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Brenda's gross plant and equipment has a book value of $12.0 million and other long- term assets have a book value of $300,000. What is the balance of inventory and the balance of depreciation on Brenda's Bar and Grill's balance sheet? (Enter your answers in millions of dollars rounded to 1 decimal place.) Inventory Depreciation

Explanation / Answer

9. value of inventory= $150,000

i.e. total current asstes= $300,000, out of 10% is cash (30,000) and 40% is receivables (120,000) the balance is the inventory.

to calculate depreciation the given information is not sufficient.

10. stock holder equity value= $253,300

total assets= (current assets + fixed assets)= $988,000

total liabilities( current liabilites+ debt+ equity)= (316,900+$417800+ Equity)= $253,300

6. you havent provided the tax table to calculate this problem.

17. cost of goods sold= $18,300,000

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