Question
Muffin's Masonry, Inc.'s balance sheet lists net fixed assets as $32 million. The fixed assets could currently be sold for $55 million. Muffin's current balance
Muffin's Masonry, Inc.'s balance sheet lists net fixed assets as $32 million. The fixed assets could currently be sold for $55 million. Muffin's current balance sheet shows current liabilities of $14.5 million and net working capital of $13.5 million. If all the current accounts were liquidated today, the company would receive $8.15 million cash after paying the $14.5 million in current liabilities.
What is the book value of Muffin's Masonry's assets today and the market value of these assets?(Enter your answer in millions of dollars rounded to 2 decimal places.)
Book Value Market Value (In Millions of Dollars)
Current Assets___________
Fiexed Assets ___________
Total _____________
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
