Total assets = 15 million
Current assets = 5 million
Non current assets = 15 million - 5 million i.e 10 million
Other long term assets = 0.50 million
Value of PPE = Gross book value of PPE - Depreciation
9.50 million = 11,50 million - Depreciation
Depreciation = 2 million
Current assets = 5 million
Cah = 10 % of current assets i.e 5 million * 10%
= 0.50 million
Accounts receivable = 40% of current assets i.e 5 million * 40%
= 2 million
Inventory = Total assets - Cash - Accounts Receivable
= 5 million - 0.50 million - 2 million
= 2.50 million
Balance Sheet Brenda's Bar and Grill has total assets of $15 million, of which $5 million...
Problem 2-15 Balance Sheet (LG2-1) Brenda's Bar and Grill has total assets of $27.0 million, of which $21.0 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Brenda's gross plant and equipment has a book value of $20.5 million and other long-term assets have a book value of $800,000. What is the balance of inventory and the balance of depreciation on Brenda's Bar and Grill's...
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