How much is the total long-term assets

Assignment Help Financial Accounting
Reference no: EM132614906

Problem 1: The following table summarizes information about some assets of a firm. How much is the total long-term assets?

Asset

                          Expected Life               Balance Sheet Value, in USD

Cash                               -                 $50,000

Accounts Receivable        6 months            $100,000

Accounts Receivable           13 months          $200,000

Machinery                              18 months          $50,000

Building                                    20 years             $100,000

Inventory                                  10 months              $50,000

Prepaid Expenses                           3 months                $50,000

Notes Receivable                           15 months                 $200,000

Equipment                                    24 months                  $100,000

Option 1: $700,000

Option 2: $450,000

Option 3: $650,000

Option 4: $500,000

Reference no: EM132614906

Questions Cloud

Define digital transformation in brief : Define digital transformation and how it drives business value in the organization. Identify current issues in IT leadership. Discuss relevant changes.
What the balance sheet for year end will show the value : Assuming the firm has never issued Common Stock before 2013, the Balance Sheet for 2016 year end will show the value of Common Stock to be
How much will Crane have in the account : Assume Crane Company deposits $80000 with First National Bank in an account earning interest at 4% per annum, How much will Crane have in the account
Why is collaboration so important in technical communication : Why is collaboration so important in technical communication? What are some of the things you need to know about your intended audience?
How much is the total long-term assets : The table summarizes information about some assets of a firm. How much is the total long-term assets? Accounts Receivable, Machinery
Discussion ethical issues : Discuss an ethical situation in the past year involving a company. Describe the ethical issue. Do you agree with how the firm handled the ethical issue,
What will the balance be on December : If $18500 is deposited annually starting on January 1, 2020 and it earns 9%, what will the balance be on December 31, 2027
International opportunities : Determine why, given the advantages of international diversification, some firms choose not to expand internationally.
How much will she need to set aside at the beginning : If she is able to earn 6% per annum on an investment, how much will she need to set aside at the beginning of each year to accumulate sufficient funds

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

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