Pier Imports has cash of $41,100 and accounts receivable of $54,200, all of which is expected to be collected.The inventory cost $82,300 and can be sold today for $116,500.The fixed assets were purchased at a total cost of $234,500 of which $118,900 has been depreciated.The fixed assets can be sold today for $138,000.What is the total book value of the firm's assets?

Question

Quizplus · Accepted Answer

The total book value of the firm's assets is calculated as follows: Cash ($41,100) + Accounts Receivable ($54,200) + Inventory ($82,300) + Net Fixed Assets ($234,500 - $118,900) = $293,200.

Pier Imports Has Cash of $41,100 and Accounts Receivable of $54,200