Could you please show your work? Klingon Widgets, Inc., purchased new cloaking m
ID: 2730703 • Letter: C
Question
Could you please show your work?
Klingon Widgets, Inc., purchased new cloaking machinery three years ago for dollar 15 million. The machinery can be sold to the Romulans today for dollar 14.1 million. Klingon's current balance sheet shows net fixed assets of dollar 12 million, current liabilities of dollar 860, 000, and net working capital of dollar 224,000. If all the current accounts were liquidated today, the company would receive dollar 1.06 million cash. What is the book value of Klingon's total assets today? (Enter your answer in dollars, not millions of dollars, e.g., 1, 234,567.) Book value of total assets dollar What is the sum of the market value of NWC and the market value of fixed assets? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1, 234,567.) Sum of the market value of NWC and market value of fixed assets dollarExplanation / Answer
Book value Net Fixed assets $ 12,000,000 Current assets $ 1,084,000 860000+224000 Total Assets $ 13,084,000 Market Value Fixed Assets $ 14,100,000 NWC $ 200,000 1060000-860000 Sum total $ 14,300,000