Cash Prepaid Insurance Accounts Receivable Inventory Land held for investment Land Building 132,000 Less Accumulated Depreciation (24,000) 108,000 Trademark 84,000 Total Assets $698,000 O $204,000 O $56,000 Cain Auto Supplies Balance Sheet 31-Dec-23 $320,000 $20,000 36,000 60,000 204,000 96,000 90,000 O $116,000 Accounts Payable Interest Payable Mortgage Payable Total Liabilities $76,000 2,000 The total dollar amount of assets to be classified as current assets is 216,000 $294,000 Common Stock $104,000 Retained Earnings 300,000 Total Stockholders' equity $404,000 Total Liabilities and Stockholders' Equity $698,000
Cash Prepaid Insurance Accounts Receivable Inventory Land held for investment Land Building 132,000 Less Accumulated Depreciation (24,000) 108,000 Trademark 84,000 Total Assets $698,000 O $204,000 O $56,000 Cain Auto Supplies Balance Sheet 31-Dec-23 $320,000 $20,000 36,000 60,000 204,000 96,000 90,000 O $116,000 Accounts Payable Interest Payable Mortgage Payable Total Liabilities $76,000 2,000 The total dollar amount of assets to be classified as current assets is 216,000 $294,000 Common Stock $104,000 Retained Earnings 300,000 Total Stockholders' equity $404,000 Total Liabilities and Stockholders' Equity $698,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Cash
Prepaid Insurance
Accounts Receivable
Inventory
Land held for investment
Land
$204,000
Building
132,000
Less Accumulated Depreciation (24,000) 108,000
Trademark
84,000
Total Assets
$698,000
O$56,000
Cain Auto Supplies
Balance Sheet
31-Dec-23
$320,000
$20,000
36,000
60,000
O $116,000
204,000
96,000
90,000
Accounts Payable
Interest Payable
Mortgage Payable
Total Liabilities
Common Stock
Retained Earnings
Total Stockholders' equity
Total Liabilities and
Stockholders' Equity
The total dollar amount of assets to be classified as current assets is
$76,000
2,000
216,000
$294,000
$104,000
300,000
$404,000
$698,000
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