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gregori [183]
3 years ago
8

Klingon Cruisers, Inc., purchased new cloaking machinery five years ago for $15 million. The machinery can be sold to the Romula

ns today for $14.3 million. Klingon's current balance sheet shows net fixed assets of $12 million, current liabilities of $840,000, and net working capital of $223,000. If all the current accounts were liquidated today, the company would receive $1.05 million cash. What is the book value of Klingon's assets today
Business
1 answer:
Nesterboy [21]3 years ago
3 0

Answer: $13,063,000

Explanation:

The book value of Klingon's assets today will be:

Net working capital = $223,000

Add: Current liabilities = $840,000

Current assets = $1,063,000

Add: Net fixed asset = $12,000,000

Book value of assets = $13,063,000

Therefore, the book value of the assets will be $13,063,000.

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Answer:

Output is below its potential level.

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3 years ago
The business market consists of all the organizations that acquire goods and services used in the production of other products o
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Answer:

The major types of industries that make up the business market are agriculture industry, forestry industry, mining industry, manufacturing industry ; construction industry and transportation industry; communication industry, banking, finance and insurance industry.

Explanation:

a) Agricultural industry entails group of firms involving in rearing of animal and growing of both cash crop or food crop either majorly for commercial purpose / use

b) Forestry industries are group of firm who specialize in afforestation and deforestation of trees with a goal of maintaining environmental well-being, majorly for commercial purpose

c) Mining industry are industry who specialize in extraction from the soil raw materials required by other industries. Extraction like crude oil, Coal

d) Manufacturing industry are group of firm whose main objectives is to process raw material into finish good for use by the market and for commercials industry.

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h) Banking, Finance and Insurance industry are industry who accept deposit, gives loans to organisation, provide insurance cover over a particular risk, offers organisation financial advice, offers audit.

4 0
3 years ago
What is a significant factor in long-run economic growth that robert fogel, an economic historian, is best known for suggesting?
damaskus [11]
Robert Fogel is best known in suggesting for improvements in workers' health from better nutrition. Robert William Fogel is an economic historian who has awards in the Nobel Memorial Prize in economic sciences and another award in Bancoff prize. Fogel's work are the following: Railroads and American Economic Growth, Which roads to the past?, and the slavery debates.
5 0
3 years ago
A note payable was executed by Sterling Inc. to Miami Finance Company. Sterling Inc. used $768,000 of its accounts receivable as
denpristay [2]

Answer:

See all the entries below.

Explanation:

a. Record the entry for Sterling to record the secured borrowing.

The entries will look as follows:

<u>Account Name                                    Debit ($)           Credit ($)    </u>

Cash (768,000 * 85%)                       652,800

  Note Payable                                                              652,800

<em><u>(To record the secured borrowing.)                                                    </u></em>

b. Record the entries for Sterling to record (1) the collections and (2) the payment to Miami for the first month.

The entries will look as follows:

<u>Account Name                                    Debit ($)           Credit ($)      </u>

Cash                                                   504,320

Refund Liability                                    20,480

  Accounts Receivable                                                 524,800

<u><em>(To record collection on receivables for first month.)                         </em></u>

Interest Expense                                     4,480

Note Payable                                      499,840

  Cash                                                                             504,320

<u><em>(To record payment to Miami for the first month.)                               </em></u>

c. Record the entries for Sterling to record (1) the collections for the second month and (2) the final payment to Miami.

The entries will look as follows:

<u>Account Name                                    Debit ($)            Credit ($)     </u>

Cash                                                    238,080

Allowance for Doubtful Debt                  5,120

  Accounts Receivable (w.1)                                          243,200

<u><em>(To record collection on receivables for second month Interest.)     </em></u>

Expense                                                   1,920

Note Payable                                       151,040

  Cash (w.2)                                                                      152,960

<u><em>(To record final payment to Miami.)                                                      </em></u>

Workings:

w.1: Accounts Receivable = Amount of accounts receivable as collateral – Cash received from customer = $768,000 - $524,800 = $243,200

w.2: Cash = Loan - First payment for principal = $652,800 - $499,840 = $152,960

3 0
3 years ago
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PIT_PIT [208]

Answer:

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Explanation:

All buyers are willing to buy although all are willing to pay more than the minimum price. the seller might need to increase price  

7 0
3 years ago
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