Muffins masonry incs balance sheet lists net fixed assets, Accounting Basics

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Muffins masonry incs balance sheet lists net fixed assets

Problem

Muffin's Masonry, Inc.'s, balance sheet lists net fixed assets as $14 million. The fixed assets could currently be sold for $19 million. Muffin's current balance sheet shows current liabilities of $5.5 million and net working capital of $4.5 million. If all the current accounts were liquidated today, the company would receive $7.25 million cash after paying the $5.5 million in current liabilities. What is the book value of Muffin's Masonry's assets today and the market value of these assets?

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Accounting Basics: Muffins masonry incs balance sheet lists net fixed assets

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