The financial statements of Hullur\'s Antiques reflects cash of $21,300, collect
ID: 2739271 • Letter: T
Question
The financial statements of Hullur's Antiques reflects cash of $21,300, collectible accounts receivable of $37,700, accounts payable of $45,900, inventory of $63,300, long-term debt of $80,000, and net fixed assets of $123,400. The firm estimates that if they wanted to cease operations today that they could sell the inventory for $48,000 and the fixed assets for $99,000. What is the market value of the assets?
$245,700
$236,700
$119,800
$206,000
$80,100
a.$245,700
b.$236,700
c.$119,800
d.$206,000
e.$80,100
Explanation / Answer
Market value of the assets= cash+collectible account+ market value of inv+market valu of fixed asset
=21300+37700+48000+99000
=$206,000
Option D
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