The total dollar amount of assets to be classified as current assets is $205000. $360000. $538000. $133000.
The total dollar amount of assets to be classified as current assets is $205000. $360000. $538000. $133000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following information is for Skysong Auto Supplies:
|
SkysongReal Estate
Balance Sheet December 31, 2020 |
|||||||
|---|---|---|---|---|---|---|---|
|
Cash
|
$ 40000
|
Accounts Payable
|
$ 128000
|
||||
|
Prepaid Insurance
|
79000
|
Salaries and Wages Payable
|
45000
|
||||
|
|
98000
|
Mortgage Payable
|
155000
|
||||
|
Inventory
|
143000
|
Total Liabilities
|
328000
|
||||
|
Land Held for Investment
|
178000
|
||||||
|
Land
|
246000
|
||||||
|
Buildings
|
$200000
|
||||||
|
Less
Depreciation |
Owner's Capital
|
739000
|
|||||
|
(55000)
|
145000
|
||||||
|
Trademark
|
138000
|
Total Liabilities and
Owner’s Equity |
|||||
|
Total Assets
|
$1067000
|
$1067000
|
The total dollar amount of assets to be classified as current assets is
$205000.
$360000.
$538000.
$133000.
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