The financial statements of Jame\'s Auto Repair reflect cash of $14,600, account
ID: 2724923 • Letter: T
Question
The financial statements of Jame's Auto Repair reflect cash of $14,600, accounts receivable of $11,500, accounts payable of $22,900, inventory of $17,800, long-term debt of $42,000, and net fixed assets of $63,800. The firm estimates that if it wanted to cease operations today it could sell the inventory for $35,000 and the fixed assets for $49,000. The firm could also collect 100 percent of its receivables. What is the market value of the assets?
$32,800
$39,900
$74,000
$95,500
$110,100
$32,800
$39,900
$74,000
$95,500
$110,100
Explanation / Answer
The MArket value of the Assets = Cash + Accounts Receivable(MArket value or realisable value)+Inventory (Market value) +Fixed Assets (MArket VAlue)
The MArket VAlue of Assets = 14600+11500+35000+49000 = $110100
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.