1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Blizzard [7]
2 years ago
14

A delivery company purchased a bunch of new trucks three years ago for $6 million. These trucks can be sold today for $5.3 milli

on. The delivery company's current balance sheet shows net fixed assets of $3.2 million, current liabilities of $900,000, and net working capital of $215,000. If all the current assets were sold today and converted into cash, the delivery company would receive $1.25 million.
Calculate the book value of the delivery company's total assets today.
Business
1 answer:
mafiozo [28]2 years ago
4 0

Answer:

The net book value  of the company = $3,415,000

Explanation:

<em>The historical cost concept states that assets should be stated at their historical cost. Under this concept, the value of a company is the the net-book value of its assets. The net book value of an asset is its historical cost less the accumulated depreciation to date.</em>

The book value of the delivery company

Net fixed assets                          $3, 200,000

Net working capital                   <u> $215,000</u>

Total book value                       <u> $3,415,000</u>

The net book value  of the company = $3,415,000

You might be interested in
Yosevin began his memo with background information and explanations before announcing a reduction in health insurance coverage.
Dmitriy789 [7]

Answer:

Indirect

(I hope it's correct)

7 0
3 years ago
A company's strategy can best be described as a(n) _______ about what long-term goals or direction to pursue for the survival or
steposvetlana [31]

Answer:C

Explanation:

Educated guess. Proper understanding of the environment helps to make informed decisions

4 0
3 years ago
The income statement of Benning Co. for the month of July shows net income of $1,400 based on Service Revenue $5,500, Wages Expe
Rom4ik [11]

Answer:

Net Income = $1,250

Explanation:

Benning Co.

Income Statement

For the Month Ended July 31, 2010

Particulars                             $                     $

Revenues                                                6,000 (1)

Expenses:

Wages Expense               2,600 (2)

Supplies Expense            1,000 (3)

Utilities Expense                600

Insurance Expense            400

Depreciation Expense       150

<em>Total expenses                                 </em><u><em>      4,750   </em></u>

Net Income                                            $1,250

<u><em>Note:</em></u>

1. Revenues = 5,500 + 500 (Adjustment 5) = $6,000

Performed services not recorded will add.

2. Wages expense = $2,300 + 300 (Adjustment 3) = $2,600

Accrued wages not paid will add to the wages expense.

3. Supplies Expense = $1,200 - 200 (Adjustment 2) = $1,000

Supplies expense includes supplies on hand will decrease the supplies expense.

3 0
3 years ago
The sarbanes-oxley act created the _____ to protect the interests of investors and further the public interest in the preparatio
devlian [24]

The correct answer is the Public Company Accounting Oversity Board.

The Sarbanes-Oxley Act was enacted in 2002. It’s purpose was to protect investors and add additional oversight for corporations after a number of companies were caught up in accounting scandals and investors lost billions of dollars.

8 0
3 years ago
On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $4,500, terms 4/10, n/30. On June 20, SH returns to
Georgia [21]

Answer: $3360

Explanation:

Based on the information given in the question, the amount of cash paid by SH to Oakley will be calculated as thus:

SH will be entitled to a discount of 4% since the payment was made within the discount period, therefore, the discount that is applicable will be:

= $4500 - $1000

= $3,500

Therefore, the amount of cash payment that is made by SH to Oakley will be:

= $3,500 - (4% × $3,500)

= $3500 - (0.04 × $3500)

= $3500 - $140

= $3360

Therefore, the amount of cash paid by SH to Oakley is $3360.

7 0
2 years ago
Other questions:
  • How does the economy coordinates society's independent economic actors?
    6·2 answers
  • Governments of all types have historically included two basic components: a means of coercion, and a means of
    13·1 answer
  • Jake is a sales representative for General Mills. Each week he uploads his plans for visiting clients out in the field to a rout
    15·1 answer
  • What are some of the reasons businesses fail?
    6·1 answer
  • Government G levies an income tax with the following rate structure: Percentage Rate Bracket 6 % Income from –0– to $30,000 10 I
    10·1 answer
  • In which step of the learning and development process does the employer identify if there are gaps in what new employees need to
    10·1 answer
  • Allen Boating Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skil
    11·1 answer
  • Chance, Inc. sold 4,300 units of its product at a price of $137 per unit. Total variable cost per unit is $103, consisting of $7
    12·1 answer
  • "Justin Company currently produces and sells 4,000 units of a product that has a contribution margin of $6 per unit. The company
    11·1 answer
  • The__________is based on a set of cause-and-effect linkages between internal and external performance, and in this fashion, defi
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!