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Qqnd · 2022年09月26日

请问book value为什么不选R20 x 30 million = R600 million

* 问题详情,请 查看题干

NO.PZ201512300100001201

问题如下:

1. Based upon the information in Exhibit 1, the market value added of the hypothetical firm is closest to:

选项:

A.

R65 million.

B.

R113 million.

C.

R168 million.

解释:

Market value added equals the market value of firm minus total accounting book value of total capital.

Market value added = Market value of company  Accounting book value of total capital

Market value of firm = Market value of debt + Market value of equity

Market value of firm = R55 million + (30,000,000 × R25.43)

Market value of firm = R55 million + R762.9 million = R817.9 million

Market value added = R817.9 million  R650 million = R167.9 million, or approximately R168 million.

这样算出来的R600 million和题目中给出的条件R650 million之间差的R50 million可能是由于哪些方面的原因?

1 个答案
已采纳答案

王园圆_品职助教 · 2022年09月26日

嗨,努力学习的PZer你好:


同学你好,total capital一般是包含equity和有息负债debt两个部分之和的值

而题目中给出的book value per share并不是指的整个公司资产的book value per share,而是指的equity的book value per share.所以如果用20*30=600million得到的只是equity的book value,却没有考虑debt的book value,所以不能使用

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