Problem 5-5 - PROBLEM 5-5 SARGENT CORPORATION Balance Sheet...

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PROBLEM 5-5 SARGENT CORPORATION Balance Sheet December 31, 2010 Assets Current assets Cash . ..................................................... $150,000 Trading securities (at fair value). ........ 80,000 Accounts receivable . ........................... $ 170,000 Less: Allowance for doubtful accounts . ............................. 10,000 160,000 Inventories, at lower of cost (determined using FIFO) or market . .... 180,000 Total current assets. ...................... $ 570,000 Long-term investments Investments in common stock (at fair value) . ..................................... 270,000 Bond sinking fund . ............................... 250,000 Cash surrender value of life insurance . .......................................... 40,000 Land held for future use. ..................... 270,000 830,000 Property, plant, and equipment Land . ..................................................... 500,000 Buildings . .............................................. 1,040,000 Less: Accum. depreciation—
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This note was uploaded on 03/02/2012 for the course AICS 3115 taught by Professor Lynnalmond during the Spring '11 term at Virginia Tech.

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Problem 5-5 - PROBLEM 5-5 SARGENT CORPORATION Balance Sheet...

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