What is the amount of Long-term assets assuming the accounts above reflect normal activity? O $330,000 O $235,000 O $310,000 O $225,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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26
Accounts Receivable
$20,000
Equipment
$100,000
Deferred Revenue
$5,000
$25,000
Short-term Investments
$25,000
Notes Receivable (due in 8 months)
$5,000
Interest Payable
$10,000
Patents
$15,000
Accounts Payable
$125,000
Land
$75,000
Inventory
Transcribed Image Text:Accounts Receivable $20,000 Equipment $100,000 Deferred Revenue $5,000 $25,000 Short-term Investments $25,000 Notes Receivable (due in 8 months) $5,000 Interest Payable $10,000 Patents $15,000 Accounts Payable $125,000 Land $75,000 Inventory
Patents
$10,000
Accounts Payable
$15,000
Land
$125,000
Inventory
$75,000
What is the amount of Long-term assets assuming the accounts above reflect normal activity?
O $330,000
O $235,000
O $310,000
O $225,000
Transcribed Image Text:Patents $10,000 Accounts Payable $15,000 Land $125,000 Inventory $75,000 What is the amount of Long-term assets assuming the accounts above reflect normal activity? O $330,000 O $235,000 O $310,000 O $225,000
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