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Please help me with this assigment Assignment 7 Balance sheet Purpose: To help you understand how to construct a Organize the information on the right-hand
Please help me with this assigment
Assignment 7 Balance sheet Purpose: To help you understand how to construct a Organize the information on the right-hand side into a market value balance sheet and calculate the net worth. Use current, intermediate, and long-term categories for assets and liabilities. Calculate the current ratio and the debt-asset ratio. Use correct formulas where possible. My score > Grade yourself on your understanding of balance sheets on a scale of 1-5 with 5 being a thorough understanding of a balance sheet. Date BALANCE SHEET SSETS Current Farm Assets Cash, checki , sav' s Pre id ex enses& su ies Accounts receivable Cro s held for sale or feed Grain and Ha Livestock held for sale Feeder livestock Other current farm assets Total current farm assets Intermediate farm assets Breedin livestock Machine and u' ment Other intermed. assets Total intermediate assets Lon term farm assets Farm real estate Land Buildin s Other Ion term assets Total Ion term farrm assets Total farm assets Nonfarm assets Total nonfarm assets Total assets Value LIABILITIES AND NET WORTH Current farm liabilities Accounts a able and accrued e Accounts a able rati loan Accrued interest Value nses Intermeditate and long-term principal due within 12 months Machine loan Mort e Other cur. farm Liabilities Contin en income tax Total current farm liabilities diate farm liabilities amount due be Machine loan Total intermediate farm liabilities Balance Sheet practice exercise Date 01/0112024 Accounts payable Current portion of mortgage liability Total machinery loan principal balm Feeder livestock Crops sales Accounts receivable Supplies on hand Property tax Current portion of machinery loan Breeding livestock Family living expenses Lon Mort farm liabilities t due be ond 12 month Grain & hay on hand Checking account balance Total Mortgage principal balance Machinery Depreciation d 12 months) Operating loan Buildings Accrued interest Fertilizer expenses 9,600 30,000 150,900 87,000 204,600 8,000 4,200 6,900 24,000 66,000 72,000 246,000 16,800 771,000 286,000 40,800 58.500 73,800 45,600 43,800 Total I -term farm liabilities Total farm liabilities Nonfarm liabilities Total nonfarm liabilities Total liabilities Net Worth Current ratio - Current Assets/Current Liabilities > Debt asset ratio - Total Debt/TotaI Assets >
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