Question

Kimbo Widgets Inc. purchased new cloaking machinery three years ago for $3 million. The machinery can be sold to the Rimalons today for $2.5 million. Kimbo’s current statement of financial position shows net fixed assets of $2.0 million, current liabilities of $0.71 million, and net working capital of $330,000. If all the current assets were liquidated today, the company would receive $1.09 million cash. (Do not round intermediate calculations. Enter the answers in dollars, not millions of dollars, i.e. 1,234,567.)

  

What is the book value of Kimbo’s total assets today?

Answer 1

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1 Ale v ** 5 1425 ENG 25-01-20205 F265 Formula Bar A B C D 250 251 252 253 254 255 256 257 258 259 260 NET WORKING CAPITAL = CURRENT ASSETS - CURRENT LIABILITIES 330000 = CURRENT ASSETS - 710000 CURRENT ASSETS = 330000 + 710000 = 1040000 SO BOOK VALUE OF TOTAL ASSETS TODAY BOOK VALUE OF CURRENT ASSETS BOOK VALUE OF FIXED ASSETS BOOK VALUE OF TOTAL ASSETS TODAY 1040000 2000000 3040000 261 262 263 264 265 266 267 268 269 270 271 Sheet1 Sheet2 Z SCORE insu pv fv cash opti LINE OF CREDIT eoq miller CARD BANKER ACCEPTANC FACTOR SI DISC FOCAL WC R...