Homework Help is Here – Start Your Trial Now!
Business
Finance
1. Preferred stock can be liquidated at book value. 2. Accounts receivable and inventories can be liquidated at 91% of book value. 3. The firm has 10,000 shares of common stock outstanding. 4. All interest and dividends are currently paid up. 5. Land and buildings can be liquidated at 115% of book value. 6. Machinery and equipment can be liquidated at 72% of book value. 7. Cash and marketable securities can be liquidated at book value. i Data Table - X Given this information, answer the following: Gallinas Industries Balance Sheet December 31 a. What is Gallinas Industries' book value per share? b. What is its liquidation value per share? Assets Liabilities and Stockholders' Equity a. Gallinas Industries' book value per share is $. (Round to the nearest d $ 30,000 Cash Accounts payable 46,530 Marketable securities 46,530 Notes payable 41,360 41,360 Accounts receivable 77,550 Accrued wages 56,870 $ 129,250 Inventories Total current liabilities $ 210,950 $ 139,590 Total current assets Long-term debt Land and buildings (net) $ 114,769 Preferred stock 62,040 191,281 Machinery and equipment Common stock (10,000 shares) 108,570 Total fixed assets (net) $ 306,050 Retained earnings 77,550 $ 517,000 $ 517,000 Total assets Total liabilities and stockholders' equity

1. Preferred stock can be liquidated at book value. 2. Accounts receivable and inventories can be liquidated at 91% of book value. 3. The firm has 10,000 shares of common stock outstanding. 4. All interest and dividends are currently paid up. 5. Land and buildings can be liquidated at 115% of book value. 6. Machinery and equipment can be liquidated at 72% of book value. 7. Cash and marketable securities can be liquidated at book value. i Data Table - X Given this information, answer the following: Gallinas Industries Balance Sheet December 31 a. What is Gallinas Industries' book value per share? b. What is its liquidation value per share? Assets Liabilities and Stockholders' Equity a. Gallinas Industries' book value per share is $. (Round to the nearest d $ 30,000 Cash Accounts payable 46,530 Marketable securities 46,530 Notes payable 41,360 41,360 Accounts receivable 77,550 Accrued wages 56,870 $ 129,250 Inventories Total current liabilities $ 210,950 $ 139,590 Total current assets Long-term debt Land and buildings (net) $ 114,769 Preferred stock 62,040 191,281 Machinery and equipment Common stock (10,000 shares) 108,570 Total fixed assets (net) $ 306,050 Retained earnings 77,550 $ 517,000 $ 517,000 Total assets Total liabilities and stockholders' equity

Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter1: Introduction To Business Activities And Overview Of Financial Statements And The Reporting Process
Section: Chapter Questions
Problem 30E
See similar textbooks
icon
Related questions
Question
Book and liquidation value The balance sheet for Gallinas Industries is as follows, . Additional information with respect to the firm is available: 1. Preferred stock can be liquidated at book value. 2. Accounts receivable and inventories can be liquidated at 91% of book value. 3. The firm has 10,000 shares of common stock outstanding. 4. All interest and dividends are currently paid up. 5. Land and buildings can be liquidated at 115% of book value. 6. Machinery and equipment can be liquidated at 72% of book value. 7. Cash and marketable securities can be liquidated at book value. - X Data Table Given this information, answer the following: Gallinas Industries Balance Sheet December 31 a. What is Gallinas Industries' book value per share? b. What is its liquidation value per share? Assets Liabilities and Stockholders' Equity a. Gallinas Industries' book value per share is $ (Round to the nearest Cash 2$ 30,000 Accounts payable 2$ 46,530 Marketable securities 46,530 Notes payable 41,360 77,550 Accrued wages 41,360 Accounts receivable 56,870 $ 129,250 Inventories Total current liabilities $ 210,950 Long-term debt $ 139,590 Total current assets Land and buildings (net) $ 114,769 Preferred stock $ 62,040 Machinery and equipment 191,281 Common stock (10,000 shares) 108,570 Total fixed assets (net) $ 306,050 Retained earnings 77,550 $ 517,000 $ 517,000 Total assets Total liabilities and stockholders' equity
Transcribed Image Text:Book and liquidation value The balance sheet for Gallinas Industries is as follows, . Additional information with respect to the firm is available: 1. Preferred stock can be liquidated at book value. 2. Accounts receivable and inventories can be liquidated at 91% of book value. 3. The firm has 10,000 shares of common stock outstanding. 4. All interest and dividends are currently paid up. 5. Land and buildings can be liquidated at 115% of book value. 6. Machinery and equipment can be liquidated at 72% of book value. 7. Cash and marketable securities can be liquidated at book value. - X Data Table Given this information, answer the following: Gallinas Industries Balance Sheet December 31 a. What is Gallinas Industries' book value per share? b. What is its liquidation value per share? Assets Liabilities and Stockholders' Equity a. Gallinas Industries' book value per share is $ (Round to the nearest Cash 2$ 30,000 Accounts payable 2$ 46,530 Marketable securities 46,530 Notes payable 41,360 77,550 Accrued wages 41,360 Accounts receivable 56,870 $ 129,250 Inventories Total current liabilities $ 210,950 Long-term debt $ 139,590 Total current assets Land and buildings (net) $ 114,769 Preferred stock $ 62,040 Machinery and equipment 191,281 Common stock (10,000 shares) 108,570 Total fixed assets (net) $ 306,050 Retained earnings 77,550 $ 517,000 $ 517,000 Total assets Total liabilities and stockholders' equity
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 7 steps with 5 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Earning per share and Dilutive securities
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:
9781285595047
Author:
Weil
Publisher:
Cengage
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS