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  • Ac14-Activity 5

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    elaine
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    The document shows the balance sheet of an organization with assets totaling $4,527,000 at book value and $3,743,000 at fair value or net realizable value. Liabilities total $3,507,500 at both book value and fair value. Assets are classified as either fixed assets, current assets, assets held for sale, or assets held for production. Liabilities are classified as either long-term, short-term, or unpaid operating expenses.

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    AC14-ACTIVITY 5.xlsx

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    The document shows the balance sheet of an organization with assets totaling $4,527,000 at book value and $3,743,000 at fair value or net realizable value. Liabilities total $3,507,500 at both book value and fair value. Assets are classified as either fixed assets, current assets, assets held for sale, or assets held for production. Liabilities are classified as either long-term, short-term, or unpaid operating expenses.

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    © All Rights Reserved
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    23 views1 page

    Ac14-Activity 5

    Uploaded by

    elaine
    The document shows the balance sheet of an organization with assets totaling $4,527,000 at book value and $3,743,000 at fair value or net realizable value. Liabilities total $3,507,500 at both book value and fair value. Assets are classified as either fixed assets, current assets, assets held for sale, or assets held for production. Liabilities are classified as either long-term, short-term, or unpaid operating expenses.

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    of 1

    ASSETS BV FV/NRV CLASSIFICATION

    Cash 37,000 37,000 FA


    Accounts Receivable 424,000 340,000 FA
    Notes Receivable 300,000 300,000 FA
    Merchandise 820,000 400,000 FA
    Investmetn in SMC ordinary shares
    (120 shares at cost)
    116,000 110,000 A-PS
    Land 130,000 156,000 A-FS
    Building, net 1,840,000 1,700,000 A-FS
    Machine and Equipment, net 860,000 700,000 FA
    TOTAL 4,527,000 3,743,000

    LIABILITIES BV FV/NRV CLASSIFICATION


    Bank Loa- Metro Bank 200,000 200,000 L-PS
    Notes Payable 1,400,000 1,400,000 L-FS
    Accounts Payable 1,812,500 1,812,500 U-WOP
    Accrued Wages 75,500 75,500 U-WP
    Accrued Interest Bank Loan 7,500 7,500 L-PS
    Accrued Interest- Notes Payable 12,000 12,000 L-FS
    TOTAL 3,507,500 3,507,500

    ESTIMATED DEFICIENCY

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