L. ASSET VALUATION AND BALANCE SHEET EXERCISES Assets can be valued using either a cost-based valuation...
Rhonda Rancher has applied for a loan. Her banker, Larry Loanmaker, says the old balance sheet on file must be brought up to date before a loan will be considered. Rhonda spends the rest of the aftermoon taking inventory and gathering other information. In a new spreadsheet file, create a current Market Basis balance sheet for Rhonda dated February 1, 2020. Do not use any pre made templates. I want you to create the balance sheet from scratch. Use the...
Fred Farmer needs to prepare a balance sheet for his bank. He spent the day getting the following information. Fred needs your help to build a balance sheet, and evaluate it. The information was gathered on 2/1/18 Grain sorghum in storage 4100 cwt @ $5.40 per cwt Hay on hand 75 ton @ $50.00 per ton Growing wheat 285 acres @ 24.50 per acre invested Farm mortgage payment due 4/7/18 $16,000 principle, $20,200 interest balance after 4/7/18 payment $228,000 Building...
Fred Farmer needs to prepare a balance sheet for his bank. He spent the day getting the following information. Fred needs your help to build a balance sheet, and evaluate it. The information was gathered on 2/1/18 Grain sorghum in storage 4100 cwt @ $5.40 per cwt Hay on hand 75 ton @ $50.00 per ton Growing wheat 285 acres @ 24.50 per acre invested Farm mortgage payment due 4/7/18 $16,000 principle, $20,200 interest balance after 4/7/18 payment $228,000 Building...
Fred Farmer needs to prepare a balance sheet for his bank. He spent the day getting the following information. Fred needs your help to build a balance sheet, and evaluate it. The information was gathered on 2/1/18 Grain sorghum in storage 4100 cwt @ $5.40 per cwt Hay on hand 75 ton @ $50.00 per ton Growing wheat 285 acres @ 24.50 per acre invested Farm mortgage payment due 4/7/18 $16,000 principle, $20,200 interest balance after 4/7/18 payment $228,000 Building...
Complete a balance sheet on a separate page using the information below compiled by Rhonda on January 22, 2019. Grain on hand 3500 bu. @ $5.00 per bu. Hay on hand 100 tons @ $80.00 per ton Growing wheat 200 acres @ $69.80 per acre Farm mortgage (due/4/1/19) $13,000 principal $10,000 accrued interest balance after 4/01/19 payment $260,000 Buildings & improvements $68,000 Note payable on feeder cattle (all due 4/15/19) $45,000 Calves (to be sold in May 2019) 100 head...
Balance Sheet, Jan 1, 2019 Current Assets Cost Current Liabilities Cost Cash 13,000 Accounts Payable 35,000 Corn Grain Inventory 20,000 Interest Payable 11,850 Wheat Inventory 10,000 Principal Farm Mortgage 20,000 Prepaid expenses 5,500 Principal Beef Loan 10,000 Feed on hand 80,000 Operating Loan 75,000 Market Livestock 32,000 Property Taxes Payable 15,000 Accounts Receivable 2,000 Supplies 4,000 Total current assets 166,500 Total current liabilities 166,850 Intermediate Assets Intermediate Liabilities Machinery 300,000 Beef Loan 100,000 Beef Breeding Stock 55,000 Titled Vehicles 26,000...
BALANCE SHEET I. Rhonda Rancher has applied for a loan. Her banker, Larry Loanmaker, says the old balance sheet on file must be brought up to date before a loan will be considered. Rhonda spends the rest of the afternoon taking inventory and gathering other information. Complete a balanee sheet on a separate page using the information below compiled by Rhonda on January 22, 2019. 3500 bu. @ $5.00 per bu. 100 tons @ $80.00 per ton Grain on hand...
BALANCE SHEET I. Rhonda Rancher has applied for a loan. Her banker, Larry Loanmaker, says the old balance sheet on file must be brought up to date before a loan will be considered. Rhonda spends the rest of the afternoon taking inventory and gathering other information. Complete a balanee on a separate page using the information below compiled by Rhonda on January 22, 2019. A Grain on hand a Hay on hand A Growing wheat L Farm mortgage (duel4/1/19) 3500...
complete the following balance sheet. Assets 12/31/2018 12/31/2019 Change Cash $25,000 $35,000 Marketable Securities $10,000 $15,000 Accounts Receivable $1,500 $1,500 Fertilizer and Supplies $500 $25,000 Investments in Growing Crops $48,500 $86,000 Crops held for Sale and Feed $12,000 $8,000 Market Livestock $75,000 $115,000 Total Current Assets Breeding Livestock $45,000 $35,000 Machinery and Equipment $350,000 $315,000 Buildings $75,000 $85,000 Investments in Cooperatives $2,000 $2,000 Land $500,000 $525,000 Total Non-Current Assets Total Assets Flag this Question Question 211.5 pts Complete the following...