Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Cash Accounts receivable Inventory Prepaid insurance Stock investments (long-term) Land Buildings Less: Accumulated depreciation Goodwill Total assets Metlock, Inc. Balance Sheet December 31, 2022 $301000 (61500) $191000 148000 151000 87000 262000 250000 239500 211000 $1539500 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $210000 31000 242500 $483500 $309000 747000 $1056000 $1539500
Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Cash Accounts receivable Inventory Prepaid insurance Stock investments (long-term) Land Buildings Less: Accumulated depreciation Goodwill Total assets Metlock, Inc. Balance Sheet December 31, 2022 $301000 (61500) $191000 148000 151000 87000 262000 250000 239500 211000 $1539500 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $210000 31000 242500 $483500 $309000 747000 $1056000 $1539500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please Introduction and show work and please no plagiarism please
Transcribed Image Text:Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment.
Cash
Accounts receivable
Inventory
Prepaid insurance
Stock investments (long-term)
Land
Buildings
Less: Accumulated
depreciation
Goodwill
Total assets
Metlock, Inc.
Balance Sheet
December 31, 2022
$301000
(61500)
$191000
148000
151000
87000
262000
250000
239500
211000
$1539500
Accounts payable
Salaries and wages payable
Mortgage payable
Total liabilities
Common stock
Retained earnings
Total stockholders'
equity
Total liabilities and
stockholders' equity
$210000
31000
242500
$483500
$309000
747000
$1056000
$1539500
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