Question

The pier import store has cash of $34,600 and accounts receivable of $54,200. the inventory cost $92,300 and can be sold today for $146,900. the fixed assets were purchased at a cost of $234,500 of which $107,900 has been depreciated. the fixed assets can be sold today for $199,000. what is the total book value of the firm's assets?

Answer 1

The book value of the company’s assets is the sum of the values of individual assets entered in the books of the company. The following would be its book value:

Cash $34,600

Accounts receivable $54,200

Inventory $92,300

Fixed assets $234,500

Accumulated depreciation of fixed assets ($107,900)

Total book value of the assets of the firm $307,700