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Question 25 The following information is for Alyazia Avenue Real Estate: Cash Prepaid Insurance Accounts Receivable Inventory Land Held for Investment Land Building Less Accumulated Depreciation Trademark Total Assets $ 25,000 40,000 50,000 80,000 75,000 120,000 $110,000 (20,000) 90,000 70,000 $550,000 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities Owner's Capital Total Liabilities and Owner's Equity Alyazia De

Question 25 The following information is for Alyazia Avenue Real Estate: Cash Prepaid Insurance Accounts Receivable Inventory Land Held for Investment Land Building Less Accumulated Depreciation Trademark Total Assets $ 25,000 40,000 50,000 80,000 75,000 120,000 $110,000 (20,000) 90,000 70,000 $550,000 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities Owner's Capital Total Liabilities and Owner's Equity Alyazia De

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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Question 25 The following information is for Alyazia Avenue Real Estate: Cash Prepaid Insurance Accounts Receivable Inventory Land Held for Investment Land Building Less Accumulated Depreciation Trademark Total Assets $ 25,000 40,000 50,000 80,000 75,000 120,000 $110,000 (20,000) 90,000 70,000 $550,000 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities Owner's Capital Total Liabilities and Owner's Equity The total dollar amount of assets to be classified as current assets is O $115,000. $195,000. O $200,000. O $270,000. Alyazia Avenue Real Estate Balance Sheet December 31, 2016 $ 60,000 25,000 85,000 170,000 380,000 $550,000
Transcribed Image Text:Question 25 The following information is for Alyazia Avenue Real Estate: Cash Prepaid Insurance Accounts Receivable Inventory Land Held for Investment Land Building Less Accumulated Depreciation Trademark Total Assets $ 25,000 40,000 50,000 80,000 75,000 120,000 $110,000 (20,000) 90,000 70,000 $550,000 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities Owner's Capital Total Liabilities and Owner's Equity The total dollar amount of assets to be classified as current assets is O $115,000. $195,000. O $200,000. O $270,000. Alyazia Avenue Real Estate Balance Sheet December 31, 2016 $ 60,000 25,000 85,000 170,000 380,000 $550,000
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