Question

Pier Imports has cash of $41,100 and accounts receivable of $54,200, all of which is expected...

Pier Imports has cash of $41,100 and accounts receivable of $54,200, all of which is expected to be collected. The inventory cost $82,300 and can be sold today for $116,500. The fixed assets were purchased at a total cost of $234,500 of which $118,900 has been depreciated. The fixed assets can be sold today for $138,000. What is the total book value of the firm's assets?

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Answer #1
Solution:
Total book value of the firm's assets $293,200
Working Notes:
Current Assets
Cash $41,100 a
Accounts receivable $54,200 b
Inventory (cost) $82,300 c
Fixed Assets
Net fixed assets 115,600 d
[cost $234,500 - $118,900 depreciation ]
Total book value of the firm's assets $293,200 e=a+b+c+d+e
Notes: Market value of Inventory and fixed assets is not considered in computation of Book value of assets.
Please feel free to ask if anything about above solution in comment section of the question.
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