1 answer

Ppose the following information (in thousands of dollars) is available for Nash's Trading Post, LLC-famous for...

Question:

ppose the following information (in thousands of dollars) is available for Nashs Trading Post, LLC-famous for ketchup and other fine food products-for the year ended April , 2017 repaid insurance $100,000 Buildings $4,000,000 350,000 1,100,000 70,000 Cash 3,900,000 Accounts receivable Trademarks 750,000 Accumulated deprecdation-buildings 1,200,000 Prepare the assets section of a dassified balance sheet. (List current assets in order of liquidity.) Nashs Trading Post, LLC Partial Balance Sheet 140 AM 5 6 9
Nashs Trading Post, LLC Partial Balance Sheet 40 8 4 5 6 7 8
Assignment Gradebook ORION Downloadable eTextbook nent CALCU 3 4 5 6 7 8 9
ppose the following information (in thousands of dollars) is available for Nash's Trading Post, LLC-famous for ketchup and other fine food products-for the year ended April , 2017 repaid insurance $100,000 Buildings $4,000,000 350,000 1,100,000 70,000 Cash 3,900,000 Accounts receivable Trademarks 750,000 Accumulated deprecdation-buildings 1,200,000 Prepare the assets section of a dassified balance sheet. (List current assets in order of liquidity.) Nash's Trading Post, LLC Partial Balance Sheet 140 AM 5 6 9
Nash's Trading Post, LLC Partial Balance Sheet 40 " 8 4 5 6 7 8
Assignment Gradebook ORION Downloadable eTextbook nent CALCU 3 4 5 6 7 8 9

Answers

Kindly refer the note for understanding the order of liquidity for current assets.

Notes for understanding Order of Liquidity 1. Cash- It is the most liquid asset since no conversion required. 2. Accounts receivable -conversion to cash as per companys normal credit terms or immediately by factoring the receivables 3. Inventory-require multiple months to convert to cash depending on ready resale market.</p><p>4. Prepaid Insurance- It is the least liquid amonf all the current assets so it is taken last in the order

Nash Tradings Post, LLC Partial Balance Sheet In Thousands Assets (A Fixed Assets Tangible Fixed Assets Buildings Less:- Accumulated Depreciation Land 4,000,000 2,100,000 1,900,000 70,000 1,970,000 Intangible Fixed Assets Goodwill Trademarks 3,900,000 750,000 4,650,000 6,620,000 (A) (B) Current Assets Cash Accounts Receivables Invento Prepaid Insurance TOTAL ASSETS(A+ B 350,000 1,100,000 1,200,000 100,000 2,750,000 (B) 9,370,000 (AB)

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