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As of December 31, 2020 Coke Company reported the following items in its balance sheet Cash P240,000.00 Receivables 520,000.00 Inventory 350,000.00 Property & Plant 3,000,000.00 Equipment 850,000.00 Accounts payable 400,000.00 Short term notes payable 500,000.00 Long term debt 1,000,000.00 Weighted average of outstanding shares in 2020 250,000 Coke contracted with a third party appraiser to determine how much is the replacement cost of its assets. Based on the report of the appraiser, the property & plant has a replacement cost of 150% of its reported value. On the other hand, the equipment only commands replacement cost of 80%, Other assets and liabilities are fairly valued. How much is the noncurrent assets reflected in the books of Coke in 2020? How much is the book value per share? How much is the replacement value of the noncurrent assets of Coke? How much is the replacement value per share?

As of December 31, 2020 Coke Company reported the following items in its balance sheet Cash P240,000.00 Receivables 520,000.00 Inventory 350,000.00 Property & Plant 3,000,000.00 Equipment 850,000.00 Accounts payable 400,000.00 Short term notes payable 500,000.00 Long term debt 1,000,000.00 Weighted average of outstanding shares in 2020 250,000 Coke contracted with a third party appraiser to determine how much is the replacement cost of its assets. Based on the report of the appraiser, the property & plant has a replacement cost of 150% of its reported value. On the other hand, the equipment only commands replacement cost of 80%, Other assets and liabilities are fairly valued. How much is the noncurrent assets reflected in the books of Coke in 2020? How much is the book value per share? How much is the replacement value of the noncurrent assets of Coke? How much is the replacement value per share?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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As of December 31, 2020 Coke Company reported the following items in its balance sheet Cash P240,000.00 Receivables 520,000.00 Inventory 350,000.00 Property & Plant 3,000,000.00 Equipment 850,000.00 Accounts payable 400,000.00 Short term notes payable 500,000.00 Long term debt 1,000,000.00 Weighted average of outstanding shares in 2020 250,000 Coke contracted with a third party appraiser to determine how much is the replacement cost of its assets. Based on the report of the appraiser, the property & plant has a replacement cost of 150% of its reported value. On the other hand, the equipment only commands replacement cost of 80%, Other assets and liabilities are fairly valued. How much is the noncurrent assets reflected in the books of Coke in 2020? How much is the book value per share? How much is the replacement value of the noncurrent assets of Coke? How much is the replacement value per share?
Transcribed Image Text:As of December 31, 2020 Coke Company reported the following items in its balance sheet Cash P240,000.00 Receivables 520,000.00 Inventory 350,000.00 Property & Plant 3,000,000.00 Equipment 850,000.00 Accounts payable 400,000.00 Short term notes payable 500,000.00 Long term debt 1,000,000.00 Weighted average of outstanding shares in 2020 250,000 Coke contracted with a third party appraiser to determine how much is the replacement cost of its assets. Based on the report of the appraiser, the property & plant has a replacement cost of 150% of its reported value. On the other hand, the equipment only commands replacement cost of 80%, Other assets and liabilities are fairly valued. How much is the noncurrent assets reflected in the books of Coke in 2020? How much is the book value per share? How much is the replacement value of the noncurrent assets of Coke? How much is the replacement value per share?
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