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Gelneren [198K]
3 years ago
6

Lester's Fried Chick'n purchased its building 11 years ago at a cost of $189,000. The building is currently valued at $209,000.

The firm has other fixed assets that cost $56,000 and are currently valued at $32,000. To date, the firm has recorded a total of $49,000 in depreciation on the various assets it currently owns. Current liabilities are $36,600 and net working capital is $18,400. What is the total book value of the firm's assets?
Business
1 answer:
liberstina [14]3 years ago
4 0

Answer:

$251,000

Explanation:

The computation of the total  book value of the firm's assets is shown below:

= Historical cost of building + cost of other fixed asset - total depreciation charged on the various assets + current liabilities + net working capital

= $189,000 + $56,000 - $49,000 + $36,600 + $18,400

= $251,000

We added the other cost which is computed above and deduct only the total depreciation so that the total book value of the firm's asset has come

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A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the task of piecing together i
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Explanation:

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