Use the following data to determine the total dollar amount of assets to be classified as2.property, plant, and equipment.Koonce Office SuppliesBalance SheetDecember 31, 2022$ 210,00030,000CashAccounts receivableInventoryPrepaid insuranceStock investments (Long-term) 255,000LandBuildingsLess: Accumulated195,000150,000165,00090,000Accounts payableSalaries and wages payableMortgage payable240.000480,000Total liabilities360,000750.000$1.110,000270,000$315,000depreciationTrademarksTotal assetsCommon stockRetained earningsTotal stockholders' equityTotal liabilities andstockholders' equity(60,000)255,000210,000$1.590.000$1.590.000a. $990,000b. $525,000C. $735,000d. $585,0003.Use the following data to determine the total dollar amount of assets to be classified asinvestments.Koonce Office SuppliesBalance SheetDecember 31, 2022195,000150,000165,00090,000Accounts payableSalaries and wages payableMortgage payableTotal liabilities$4CashAccounts receivableInventoryPrepaid insuranceStock investments (long-term) 255,000LandBuildingsLess: Accumulated$ 210,00030,000240.000$480,000270,000Common stockRetained earningsTotal stockholders' equityTotal liabilities andstockholders' equity$315,000255,000210,000$1.590.000(60,000)$360,000750,000$1.110.000depreciationTrademarksTotal assets$0$1,590.000ab.$525,000$255,000C.$465,000d.->O LIVE

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Description: Use the following data to determine the total dollar amount of assets to be classified as2.property, plant, and equipment.Koonce Office SuppliesBalance SheetDecember 31, 2022$ 210,00030,000CashAccounts receivableInventoryPrepaid insuranceStock inves

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2. Use the following data to determine the total dolar amount of assets to be classified as property, plant, and equipment Koonce Office Supplies Balance Sheet December 31, 2022 $ 210,000 30,000 240.000 480,000 Cash Accounts receivable Inventory Prepaid insurance Stock investments (Long-term) 255,000 Land Buildings Less Accumulated $ 195,000 150,000 165.000 90,000 Accounts payable Salaries and wages payable Mortgage payable Total labilities 360,000 750.000 $1.110.000 270,000 $315,000 Common stock Retained earnings Total stockholders' equity Total labilities and stockholders' equity depreciation Trademarks (60.000) 255,000 210.000 $1.590.000 Total assets $1.590.000 a $990,000 b. $525,000 C $735.000 d. $585,000

2. Use the following data to determine the total dolar amount of assets to be classified as property, plant, and equipment Koonce Office Supplies Balance Sheet December 31, 2022 $ 210,000 30,000 240.000 480,000 Cash Accounts receivable Inventory Prepaid insurance Stock investments (Long-term) 255,000 Land Buildings Less Accumulated $ 195,000 150,000 165.000 90,000 Accounts payable Salaries and wages payable Mortgage payable Total labilities 360,000 750.000 $1.110.000 270,000 $315,000 Common stock Retained earnings Total stockholders' equity Total labilities and stockholders' equity depreciation Trademarks (60.000) 255,000 210.000 $1.590.000 Total assets $1.590.000 a $990,000 b. $525,000 C $735.000 d. $585,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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