Total assetsHONEST RON'S FURNITURE OUTLET LTD.Statement of Financial PositionDecember 31, 2018CashAccounts receivableSuppliesInventoryLandBuilding$100,000Less: Accum. Depreciation 20,000 80,000Trademark$ 40,000Less: Accum. Amortization 10,000 30,000$ 5,00020,0001,000170,000100,000$80,000.$180,000.$210,000.$350,000.$406.000Accounts payableSalaries payableMortgage payableTotal liabilitiesShareholders' equityCommon sharesRetained earningsTotal liabilities andshareholders' equityThe dollar amount of net property, plant and equipment is$ 30,00010,000130,000$170,000Total shareholders' equity 236,000$140,00096,000$406.000

Property, Plant, and Equipment: - Property, Plant, and Equipment (PPE) is the non-current tangible…

Cash Accounts receivable Supplies Inventory Land Building $100,000 Less: Accum. Depreciation 20,000 80,000 Trademark $ 40,000 Less: Accum. Amortization 10,000 30,000 $406.000 Total assets HONEST RON'S FURNITURE OUTLET LTD. Statement of Financial Position December 31, 2018 $80,000. O $180,000. O $210,000. O $350,000. S 5,000 20,000 1,000 170,000 100,000 Accounts payable Salaries payable Mortgage payable Total liabilities Shareholders' equity Common shares Retained earnings Total liabilities and shareholders' equity The dollar amount of net property, plant and equipment is $ 30,000 10,000 130,000 $170,000 Total shareholders' equity 236,000 $140,000 96,000 $406.000

Cash Accounts receivable Supplies Inventory Land Building $100,000 Less: Accum. Depreciation 20,000 80,000 Trademark $ 40,000 Less: Accum. Amortization 10,000 30,000 $406.000 Total assets HONEST RON'S FURNITURE OUTLET LTD. Statement of Financial Position December 31, 2018 $80,000. O $180,000. O $210,000. O $350,000. S 5,000 20,000 1,000 170,000 100,000 Accounts payable Salaries payable Mortgage payable Total liabilities Shareholders' equity Common shares Retained earnings Total liabilities and shareholders' equity The dollar amount of net property, plant and equipment is $ 30,000 10,000 130,000 $170,000 Total shareholders' equity 236,000 $140,000 96,000 $406.000

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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