Balance Sheet/Statement of Financial Position

Question 1

Valuation of Balance Sheet Accounts

Answer 1

Receivables = Net Realizable Value

Inventory = Lower of COST or MARKET or
Lower of COST or NET REALIZABLE VALUE

Invsmts in Marketable Securities = Fair Market Value

PP&E and Intangibles = Historical Cost and depreciated/amortized Historical Cost

Liabilities = Present Value

Equity = Historical Value of Cash Inflows and residual valuation