Question
Kimbo Widgets Inc. purchased new cloaking machinery three years ago for $12 million. The machinery can be sold to the Rimalons today for $10.8 million.
Kimbo Widgets Inc. purchased new cloaking machinery three years ago for $12 million. The machinery can be sold to the Rimalons today for $10.8 million. Kimbos current statement of financial position shows net fixed assets of $10.0 million, current liabilities of $0.83 million, and net working capital of $390,000. If all the current assets were liquidated today, the company would receive $1.24 million cash. (Do not round intermediate calculations. Enter the answers in dollars, not millions of dollars, i.e. 1,234,567. Omit $ sign in your response.)
What is the book value of Kimbos total assets today?
Total asset book value $
What is the market value?
Total asset market value
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