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Y_Kistochka [10]
3 years ago
14

Klingon Widgets, Inc., purchased new cloaking machinery four years ago for $8 million. The machinery can be sold to the Romulans

today for $7.4 million. Klingon’s current balance sheet shows net fixed assets of $6 million, current liabilities of $790,000, and net working capital of $246,000. If all the current accounts were liquidated today, the company would receive $1.13 million cash.
What is the book value of Klingon’s total assets today? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
Book value of total assets $
What is the sum of the market value of NWC and the market value of fixed assets? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
Sum of the market value of NWC and market value of fixed assets $
Business
1 answer:
alisha [4.7K]3 years ago
7 0

Answer and Explanation:

The computation is shown below:

But before that we need to find out the current asset which is

The Net working capital = Current assets - current liabilities

$246,000 = Current assets -$790,000

So, the current assets is $1,036,000

Now the book value of Klingon’s total assets is

Total assets = Current assets + net fixed assets

= $1,036,000 + $6,000,000

= $7,036,000

The sum of market value of NWC and fixed assets is

= Market value of net working capital + market value of fixed assets

= $1,130,000 + $7,400,000

= $8,530,000

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