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lowing data to determine the total dolar amount of assets to be classified a 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 depreciation Trademarks Total assets $ 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 $315,000 (80.000) 255,000 210.000 11.0.000 Common stock Retained earnings Total stockholders' equity Total labilities and stockholders' equity $1.590.000 a S990.000 b. 5525.000 C $735.000 d. ss8s.000 3 Use the folowing data to determine the total dollar amount of assets to be classified as investments Koonce Office Supplies Balance Sheet December 31, 2022 Cash Accounts receivable Inventory Prepaid insurance Stock investments (long term) 255.000 Land Buildings $ 195.000 150,000 165.000 90.000 Accounts payable Salaries and wages payable Mongage payable Total labites $ 210.000 30,000 240.000 $480.000 270.000 Common stock Retained eamings Total stockholders' equity Total labties and stockholders equity $315.000 Less: Accumulated 0.00 256.000 210.000 $360.000 deprecialion Trademarks Total assets 750.000 $1.110.000 $1.590.000 a 30 S525.000 C 525.000 d s465.000

lowing data to determine the total dolar amount of assets to be classified a 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 depreciation Trademarks Total assets $ 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 $315,000 (80.000) 255,000 210.000 11.0.000 Common stock Retained earnings Total stockholders' equity Total labilities and stockholders' equity $1.590.000 a S990.000 b. 5525.000 C $735.000 d. ss8s.000 3 Use the folowing data to determine the total dollar amount of assets to be classified as investments Koonce Office Supplies Balance Sheet December 31, 2022 Cash Accounts receivable Inventory Prepaid insurance Stock investments (long term) 255.000 Land Buildings $ 195.000 150,000 165.000 90.000 Accounts payable Salaries and wages payable Mongage payable Total labites $ 210.000 30,000 240.000 $480.000 270.000 Common stock Retained eamings Total stockholders' equity Total labties and stockholders equity $315.000 Less: Accumulated 0.00 256.000 210.000 $360.000 deprecialion Trademarks Total assets 750.000 $1.110.000 $1.590.000 a 30 S525.000 C 525.000 d s465.000

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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Use the following data to determine the total dollar amount of assets to be classified as 2. property, plant, and equipment. Koonce Office Supplies Balance Sheet December 31, 2022 $ 210,000 30,000 Cash Accounts receivable Inventory Prepaid insurance Stock investments (Long-term) 255,000 Land $ 195,000 150,000 165,000 90,000 Accounts payable Salaries and wages payable Mortgage payable 240.000 480,000 Total liabilities 360,000 750.000 $1.110.000 270,000 Buildings Less: Accumulated depreciation Trademarks Total assets Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $315,000 (60,000) 255,000 210,000 $1.590.000 $1.590.000 a. $990,000 b. $525,000 C. $735,000 d. $585,000 Use the following data to determine the total dollar amount of assets to be classified as investments. 3. Koonce Office Supplies Balance Sheet December 31, 2022 195,000 2$ 150,000 165,000 90,000 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Cash Accounts receivable Inventory Prepaid insurance Stock investments (long-term) 255,000 Land Buildings Less: Accumulated $ 210,000 30,000 240.000 $480,000 270,000 Common stock Retained earnings Total stockholders' equity $315,000 255,000 210.000 $1.590.000 $360,000 750,000 $1.110.000 (60,000) depreciation Total liabilities and Trademarks stockholders' equity Total assets $0 $1.590.000 a. $525,000 c. $255,000 $465,000 b. +
Transcribed Image Text:Use the following data to determine the total dollar amount of assets to be classified as 2. property, plant, and equipment. Koonce Office Supplies Balance Sheet December 31, 2022 $ 210,000 30,000 Cash Accounts receivable Inventory Prepaid insurance Stock investments (Long-term) 255,000 Land $ 195,000 150,000 165,000 90,000 Accounts payable Salaries and wages payable Mortgage payable 240.000 480,000 Total liabilities 360,000 750.000 $1.110.000 270,000 Buildings Less: Accumulated depreciation Trademarks Total assets Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $315,000 (60,000) 255,000 210,000 $1.590.000 $1.590.000 a. $990,000 b. $525,000 C. $735,000 d. $585,000 Use the following data to determine the total dollar amount of assets to be classified as investments. 3. Koonce Office Supplies Balance Sheet December 31, 2022 195,000 2$ 150,000 165,000 90,000 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Cash Accounts receivable Inventory Prepaid insurance Stock investments (long-term) 255,000 Land Buildings Less: Accumulated $ 210,000 30,000 240.000 $480,000 270,000 Common stock Retained earnings Total stockholders' equity $315,000 255,000 210.000 $1.590.000 $360,000 750,000 $1.110.000 (60,000) depreciation Total liabilities and Trademarks stockholders' equity Total assets $0 $1.590.000 a. $525,000 c. $255,000 $465,000 b. +
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