A partial alphabetized list of adjusted account balances for Christmas Tours as at November 30, 2020, is shown (all accounts have normal balances): Accounts payable - 41,000 Accounts receivable - 19,000 Accumulated depreciation, furniture - 4,100 Accumulated depreciation, vehicles - 15,800 Cash - 7,200 Copyright- 9,000 Notes payable - 14,000 Notes payable 2 - 21,600 Notes receivable - 20,500 Furniture -6,500 Prepaid insurance - 4,600 Prepaid rent - 9,000 Salaries payable - 12,100 Supplies - 2,250 Unearned revenue - 23,000 Vehicles - 64,000 Note: $10,000 of Notes payable 2 is to be paid by November 30, 2021. $7,500 of the notes receivable is to be collected by November 30, 2021. Required: When preparing a classified balance sheet, what would the total of Property, Plant and Equipment be? Select one: a. 50,600 b. 110,900 c. 90,400 d. 122,150

A partial alphabetized list of adjusted account balances for Christmas Tours as at November 30, 2020, is shown (all accounts have normal balances): Accounts payable - 41,000 Accounts receivable - 19,000 Accumulated depreciation, furniture - 4,100 Accumulated depreciation, vehicles - 15,800 Cash - 7,200 Copyright- 9,000 Notes payable - 14,000 Notes payable 2 - 21,600 Notes receivable - 20,500 Furniture -6,500 Prepaid insurance - 4,600 Prepaid rent - 9,000 Salaries payable - 12,100 Supplies - 2,250 Unearned revenue - 23,000 Vehicles - 64,000 Note: $10,000 of Notes payable 2 is to be paid by November 30, 2021. $7,500 of the notes receivable is to be collected by November 30, 2021. Required: When preparing a classified balance sheet, what would the total of Property, Plant and Equipment be? Select one: a. 50,600 b. 110,900 c. 90,400 d. 122,150

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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