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kolezko [41]
3 years ago
14

Jake owns The Corner Market which he is trying to sell so that he can retire and travel. The Corner Market owns the building in

which it is located. This building was built at a cost of $647,000 and is currently appraised at $819,000. The counters and fixtures originally cost $148,000 and are currently valued at $65,000. The inventory is valued on the balance sheet at $319,000 and has a retail market value equal to 1.2 times its cost. Jake expects the store to collect 98 percent of the $21,700 in accounts receivable. The firm has $26,800 in cash and has total debt of $414,700. What is the market value of this firm?
a) $857,634
b) $900,166
c) $919,000
d) $1,314,866
e) $1,333,700
Business
1 answer:
Taya2010 [7]3 years ago
7 0

Answer:

b) $900,166

Explanation:

The computation of the market value of the firm is given below:

The Market value of building $819,000

Add: Market value of counter and fixtures $65,000

Add: Retail price of inventory ($319,000 × 1.20) $382,800

Add: Collection from accounts receivables ($21,700 × 98%) $21,266

Add: Cash available $26,800

Total value of assets $1314,866

Less: Total debt -$414,700

Market value $900,166

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Explanation:

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3 years ago
In a perpetual inventory system: Multiple Choice Merchandising transactions are recorded as they occur. No effort is made to rec
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Answer:

In a perpetual inventory system:

<em>1)Merchandising transactions are recorded as they occur</em>

<em>3) Entries are made in the Cost of Goods Sold account whenever merchandise is purchased or sold</em>

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Explanation:

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In periodic system :No effort is made to record the Cost of Goods Sold until year-end. Entries are done at the year end.

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8 0
3 years ago
Holdt Inc. produces and sells a single product. The selling price of the product is $230.00 per unit and its variable cost is $6
katovenus [111]

Answer:

A. $1,300 units

Explanation:

Data provided

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The calculation of  break-even in monthly unit sales is shown below:-

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