User Account

All Pages

He firm estimate that if they wanted to cease operation

Assignment Help Accounting Basics
Reference no: EM13481357

The financial statement of Burce's Antiques reflects cash of $213000, collectible accounts recevible of $37700,accounts payable of $45900 inventory of $63300.long term debt of $80000 and net fix assets of $123400. The firm estimate that if they wanted to cease operation today that they could sell the inventory for $48000 and the fix assets for $99000. What is the market value of assets?

Reference no: EM13481357

Questions Cloud

Entries and schedules for unfinished jobs and completed : entries and schedules for unfinished jobs and completed jobs sinatra industries inc. uses a job order cost system. the
Abc earned a net profit margin of 5 last year and had an : abc earned a net profit margin of 5 last year and had an equity multiplier of 3.5. if its total assets are 93 million
Rs is a small retailer located in a tourist district the : rs is a small retailer located in a tourist district. the company purchase their building 11 years ago at a cost
Gray has a current capital structure consisting of 400000 : gray has a current capital structure consisting of 400000 of 12 annual interest debt and 50000 shares of common
He firm estimate that if they wanted to cease operation : the financial statement of burces antiques reflects cash of 213000 collectible accounts recevible of 37700accounts
Write a two page essay on whats the difference between : write a two page essay on whats the difference between chinese restaurant and american restaurant. such as menu
Do you expect reported income and operating cash flows for : do you expect reported income and operating cash flows for a service firm to be close in magnitude? would you answer
Ken williams ventures recently issued bonds that mature in : ken williams ventures recently issued bonds that mature in 15 years. they have a par value of 1000 and an annual coupon
Rc had earnings per share of 8 in year 2010 and it paid 4 : r.c had earnings per share of 8 in year 2010 and it paid 4 dividend. book value per share at years end was 80. during

Reviews

Write a Review

Accounting Basics Questions & Answers

  Electing immediate expensing

Weston acquires a used office machine (seven-year classasset) on November 2, 2008, for $75,000. This is the only asset acquired by Weston during the year. He does not elect immediate expensing under 179. On September 15, 2009, Weston sells the mac..

  Recording journal entries to record the sale

Octagon Co. appropriately uses the installment sales method of accounting for its installment sales. Prepare journal entries to record the sale, collection, and recognition of gross profit.

  More collusion post sarbanes oxley act

Since the Sarbanes-Oxley Act of 2002, fraud from lack of internal controls has gone down. At the same time, collusion between employees and among third parties has increased.

  Capital loss pass-through

This year the trust is terminated. Albert has a 40% interest in the trust, and Barbara has a 60% interest. Barbara receives a capital loss pass-through of:

  How would i do these accounting entries correctly

The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years...

  What was the amount of earnings per share

What was the amount of earnings per share? In 2004, Coca Cola reported net operating revenues of$18,158 million, gross profit of $7,387 million, operating incomeof $1,436 million,

  Challenges related to comparing financial statement

Discuss the challenges related to comparing financial statement prepared in different accounting methods. For example, US GAAP and IFRS.

  Analyze the company cash flow pattern

Based on the information provided in Exhibit 2, prepare the Company's Statements of Cash Flows for each of the two years ended on December 31, 2008 and 2009. You will need to make certain assumptions; make sure that you document each assumption.

  No dividends were declared last year though a dividend of

buzz inc. has 8000 shares of 5 50 par cumulative preferred stock and 50000 shares of 3 par common stock outstanding. no

  Completing accounting cycle

Name the steps in completing the accounting cycle and explain how they impact the financial statements. What happens is a step is missed? Explain.

  What should a cpa include in the standard management

what should a cpa include in a standard management representation letter?when is the management representation letter

  Compute the total net liability

Compute the total net liability to be reported on the December 31 balance sheet for:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd