Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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sub. general account
Lemmon Inc. lists fixed assets of $100 on its balance sheet. The firm's
fixed assets have recently been appraised at $140. The firm's balance
sheet also lists current assets at $15. Current assets were appraised at
$16.5. Current liabilities book and market values stand at $12 and the
firm's long-term debt is $40. Calculate the market value of the firm's
stockholder's equity.
a. $104.50
b. $144.50
c. $112.50
d. $156.5
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Transcribed Image Text:Lemmon Inc. lists fixed assets of $100 on its balance sheet. The firm's fixed assets have recently been appraised at $140. The firm's balance sheet also lists current assets at $15. Current assets were appraised at $16.5. Current liabilities book and market values stand at $12 and the firm's long-term debt is $40. Calculate the market value of the firm's stockholder's equity. a. $104.50 b. $144.50 c. $112.50 d. $156.5
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Managerial Accounting: The Cornerstone of Busines...
Accounting
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Cengage Learning