Basics of Corporate Finance

1. The value for the NET FIXED ASSET account is missing. What should the correct amount be for the Balance Sheet to be correct?

d) 81.3
GROSS FIXED ASSETS - DEPRECIATION= NET FIXED ASSETS
101.2 - 19.9 = 81.3

2.Suppose that $1.2 million wo rth of apples spoiled before the company was able to package them. What asset account would be affected?

c) Raw Goods Inventory
The company uses fresh fruit and packaging materials as raw materials to produce
packaged fruit as its product for sale.

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