General accounting Brenda's Bar and Grill has total assets of $17 million,of which $11 million are current assets. Cash makesup 10%of the current assets and accountsreceivable make up another 40% of current assets.Brenda's gross plant and equipment have a bookvalue of $15.5 million and other long-term assetshave a book value of $400,000.What is the balance of inventory and the balance ofdepreciation on Brenda's Bar and Grill's balancesheet?

Step 1: Define Balance SheetA balance sheet is one of the financial statements in a business. It…

Answered: Brenda's Bar and Grill has total assets…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

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Balance sheet?
Mikey's bar-and-grill has total assets of 23 million dollars of which 17 million dollars are current assets cash makes up 10% of the current assets and accounts receiv will makes up another 40% of current assets Mikey's gross plan and equipment has both value of 18.5 million dollars and another long term assets have a book value of 400,000. What is the balance of inventory and the balance of depreciation of Mikey's bar-and-grill's balance sheet enter your answers in millions of dollars rounded to 1 decimal place.
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What is the balance of inventory and the balance of depreciation?
Mikey's Bar and Grill has total assets of $23 million, of which $17 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Mikey's gross plant and equipment has a book value of $18.5 million, and other long-term assets have a book value of $400,000.
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