The following information is for Swifty Real Estate: SwiftyReal Estate Balance Sheet December 31, 2020 Cash $ 25500 Accounts Payable $ 60500 Prepaid Insurance 29700 Salaries and Wages Payable 15100 Accounts Receivable 50600 Mortgage Payable 84500 Inventory 68600 Total Liabilities 160100 Land Held for Investment 83500 Land 120600 Buildings $98100 Less Accumulated Depreciation Owner's Capital 366400 (19600) 78500 Trademark 69500 Total Liabilities and Owner’s Equity Total Assets $526500 $526500 The total dollar amount of liabilities to be classified as current liabilities is $160100. $15100. $60500. $75600.
The following information is for Swifty Real Estate: SwiftyReal Estate Balance Sheet December 31, 2020 Cash $ 25500 Accounts Payable $ 60500 Prepaid Insurance 29700 Salaries and Wages Payable 15100 Accounts Receivable 50600 Mortgage Payable 84500 Inventory 68600 Total Liabilities 160100 Land Held for Investment 83500 Land 120600 Buildings $98100 Less Accumulated Depreciation Owner's Capital 366400 (19600) 78500 Trademark 69500 Total Liabilities and Owner’s Equity Total Assets $526500 $526500 The total dollar amount of liabilities to be classified as current liabilities is $160100. $15100. $60500. $75600.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following information is for Swifty Real Estate:
|
SwiftyReal Estate
Balance Sheet December 31, 2020 |
|||||||
|---|---|---|---|---|---|---|---|
|
Cash
|
$ 25500
|
Accounts Payable
|
$ 60500
|
||||
|
Prepaid Insurance
|
29700
|
Salaries and Wages Payable
|
15100
|
||||
|
|
50600
|
Mortgage Payable
|
84500
|
||||
|
Inventory
|
68600
|
Total Liabilities
|
160100
|
||||
|
Land Held for Investment
|
83500
|
||||||
|
Land
|
120600
|
||||||
|
Buildings
|
$98100
|
||||||
|
Less
Depreciation |
Owner's Capital
|
366400
|
|||||
|
(19600)
|
78500
|
||||||
|
Trademark
|
69500
|
Total Liabilities and
Owner’s Equity |
|||||
|
Total Assets
|
$526500
|
$526500
|
The total dollar amount of liabilities to be classified as current liabilities is
$160100.
$15100.
$60500.
$75600.
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