Klingon widgets, inc., purchased new cloaking machinery three years ago for $6 million. the machinery can be sold to the romulans today for $5.1 million. klingon’s current balance sheet shows net fixed assets of $3.4 million, current liabilities of $895,000, and net working capital of $235,000. if the current assets and current liabilities were liquidated today, the company would receive a total of $1.15 million cash.
a. what is the book value of klingon’s total assets today?
b. what is the sum of the market value of nwc and the market value of fixed assets?

A. Book Value of Klingon’s Total Assets= Net  Fixed Assets +Current assets = $3,400,000 + $1,130,000

=$4,530,000

B. What is the sum of the market value of NWC and the market value of fixed assets

i. Market Value of NWC = $5.1 million

ii. the market value of fixed assets =$5.1 million  

Explanation:

Net working capital= Current assets minus current liabilities.

$235,000 =Current assets-$895,000

Current assets=$235,000 +$895,000= $1,130,000

Market value of new cloaking machinery(NWC)  is equal to the market value of fixed assets. This is because the market values of other fixed assets is assume to be zero.      

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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