Ask Question
14 December, 03:07

Kat Outfitting currently has $22,500 in cash. The company owes $49,500 to suppliers for merchandise and $52,500 to the bank for a long-term loan. Customers owe the company $41,000 for their purchases. The inventory has a book value of $76,800 and an estimated market value of $72,000. If the store compiled a balance sheet as of today, what would be the book value of the current assets?

+3
Answers (1)
  1. 14 December, 06:48
    0
    The book value of the current assets is $140,300

    Explanation:

    Cash = $22,500

    Amount owed by company = $49,500

    Amount Owed by Customers = $41,000

    Book Value of Inventory = $76,800

    Estimated market value = $72,000

    Book Value of Current Assets = Cash + Amount Owed by Customers + Book Value of Inventory

    Book Value of Current Assets = $22,500 + $41,000 + $76,800

    Book Value of Current Assets = $140,300
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Kat Outfitting currently has $22,500 in cash. The company owes $49,500 to suppliers for merchandise and $52,500 to the bank for a long-term ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers