Ava’s SpinBall Corp. lists fixed assets of $15 million on its balance sheet. The firm’s fixed assets have recently been appraised at $22 million. Ava’s SpinBall Corp.’s balance sheet also lists current assets at $8 million. Current assets were appraised at $12 million. Current liabilities’ book and market values stand at $6 million and the firm’s book and market values of long-term debt are $11 million. Calculate the book and market values of the firm’s stockholders’ equity. Construct the book value and market value balance sheets for Ava’s SpinBall Corp.
Using the accounting equation we can calculate the book value and market value of stockholder's equity | ||||
Stockholder's equity | Total assets - Total liabilities | |||
Calculation of book value of stockholder's equity | ||||
Total assets | $23.00 | (15+8) | ||
Total liabilities | $17.00 | (6+11) | ||
Stockholder's equity | $6.00 | million | ||
Calculation of market value of stockholder's equity | ||||
Total assets | $34.00 | (22+12) | ||
Total liabilities | $17.00 | (6+11) | ||
Stockholder's equity | $17.00 | million | ||
Balance sheet reflecting book value and market value is shown below | ||||
balance sheet showing book value is shown below | ||||
Balance sheet (In million) | ||||
Assets | Liabilities and equity | |||
Current assets | $8.00 | Current liabilities | $6.00 | |
Fixed assets | $15.00 | Long term debt | $11.00 | |
Stockholder's equity | $6.00 | |||
Total | $23.00 | Total | $23.00 | |
balance sheet showing market value is shown below | ||||
Balance sheet (In million) | ||||
Assets | Liabilities and equity | |||
Current assets | $12.00 | Current liabilities | $6.00 | |
Fixed assets | $22.00 | Long term debt | $11.00 | |
Stockholder's equity | $17.00 | |||
Total | $34.00 | Total | $34.00 | |
Ava’s SpinBall Corp. lists fixed assets of $15 million on its balance sheet. The firm’s fixed...
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