Table 1. Statements of Net Worth Resource Information for David Farm Business, as of 12/31/2013 and 12/31/2014 12/31/13 12/31/14 Assets Current assets Cash in farm account 6,538 2,583 Farm accounts receivable 0 0 Stored crops 1,008 2,940 1 Growing crops 163,800 138,600 – Other current assets 0 0 Total current assets 171,346 A Non-current assets Machinery and buildings 59,472 55,415 Land 437,850 481,250 Total Non-Current Assets 497,322 536,665 Total Farm Assets 680,788 of Liabilities Current liabilities Short term notes payable 16,083 11,633 Accounts payable 8,379 10,173 Portion of machinery and land debt due 26.682 24,014 Accrued liabilities (taxes, rent) 0 1,540 Accrued interest 0 0 Total current liabilities 51,144 47,360 Non-current liabilities Non- current liabilities due after one year 65,632 59,861 Land payment due after one year 203,000 171,500 Total non-current liabilities 268,632 231,361 47 Total Farm Liabilities 319,776 Net Worth (Equity) 348,892 402,067 1 through 12 refer to David Farm Business Table 1. Statements of Net Worth on page 2. Round ratios to two decimals. Each question is worth 4 points except Question 12, which is worth 3 points. What are the total farm assets on December 31, 2013?
Table 1. Statements of Net Worth Resource Information for David Farm Business, as of 12/31/2013 and 12/31/2014 12/31/13 12/31/14 Assets Current assets Cash in farm account 6,538 2,583 Farm accounts receivable 0 0 Stored crops 1,008 2,940 Growing crops 163,800 138,600 Other current assets 0 0 Total current assets 171,346 Non-current assets Machinery and buildings 59,472 55,415 Land 437,850 481,250 Total Non-Current Assets 497,322 536,665 Total Farm Assets 680,788 Liabilities Current liabilities Short term notes payable 16,083 11,633 Accounts payable 8,379 10,173 Portion of machinery and land debt due 26.682 24,014 Accrued liabilities (taxes, rent) 0 1,540 Accrued interest 0 0 Total current liabilities 51,144 47,360 Non-current liabilities Non- current liabilities due after one year 65,632 59,861 Land payment due after one year 203,000 171,500 Total non-current liabilities 268,632 231,361 Total Farm Liabilities 319,776 Net Worth (Equity) 348,892 402,067 1 – of 47 1 through 12 refer to David Farm Business Table 1. Statements of Net Worth on page 2. Round ratios to two decimals. Each question is worth 4 points except Question 12, which is worth 3 points. What are the total farm assets on December 31, 2013? A
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