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Bright Eyes Auto Supplies Balance Sheet December 31, 2015 Cash $ 40,000 Accounts Payable $ 130,000 Prepaid Insurance 80,000 Salaries and Wages Payable 50,000 Accounts Receivable 100,000 Mortgage Payable 150,000 Inventory 140,000 Total Liabilities 330,000 Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Sock $400,000 Less Accumulated Depreciation (60,000) 140,000 Retained Earnings 340,000 740,000 Trademark Total Assets 140,000 $1,070,000 Total Liabilities and Stockholders' Equity $1,070,000 The total dollar amount of assets to be classified as investments is O $140,000. O $0. O $250,000. O $180,000.

Bright Eyes Auto Supplies Balance Sheet December 31, 2015 Cash $ 40,000 Accounts Payable $ 130,000 Prepaid Insurance 80,000 Salaries and Wages Payable 50,000 Accounts Receivable 100,000 Mortgage Payable 150,000 Inventory 140,000 Total Liabilities 330,000 Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Sock $400,000 Less Accumulated Depreciation (60,000) 140,000 Retained Earnings 340,000 740,000 Trademark Total Assets 140,000 $1,070,000 Total Liabilities and Stockholders' Equity $1,070,000 The total dollar amount of assets to be classified as investments is O $140,000. O $0. O $250,000. O $180,000.

FINANCIAL ACCOUNTING
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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Bright Eyes Auto Supplies Balance Sheet December 31, 2015 Cash $ 40,000 Accounts Payable $ 130,000 Prepaid Insurance 80,000 Salaries and Wages Payable 50,000 Accounts Receivable 100,000 Mortgage Payable 150,000 Inventory 140,000 Total Liabilities 330,000 Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Sock $400,000 Less Accumulated Depreciation (60,000) 140,000 Retained Earnings 340,000 740,000 Trademark Total Assets 140,000 $1,070,000 Total Liabilities and Stockholders' Equity $1,070,000 The total dollar amount of assets to be classified as investments is O $140,000. O $0. O $250,000. O $180,000.
Transcribed Image Text:Bright Eyes Auto Supplies Balance Sheet December 31, 2015 Cash $ 40,000 Accounts Payable $ 130,000 Prepaid Insurance 80,000 Salaries and Wages Payable 50,000 Accounts Receivable 100,000 Mortgage Payable 150,000 Inventory 140,000 Total Liabilities 330,000 Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Sock $400,000 Less Accumulated Depreciation (60,000) 140,000 Retained Earnings 340,000 740,000 Trademark Total Assets 140,000 $1,070,000 Total Liabilities and Stockholders' Equity $1,070,000 The total dollar amount of assets to be classified as investments is O $140,000. O $0. O $250,000. O $180,000.
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