Question 17 Use the following data to determine the total dollar amount of assets to be classified

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 Question 17

Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment.

Eddy Auto Supplies
Balance Sheet
December 31, 2014
Cash
 
$84,000
 
Accounts payable
$110,000
Accounts receivable
 
80,000
 
Salaries and wages payable
20,000
Inventory
 
140,000
 
Mortgage payable
180,000
Prepaid insurance
 
60,000
 
Total liabilities
$310,000
Stock Investments
 
170,000
 
 
 
Land
 
190,000
 
 
 
Buildings
$226,000
 
 
Common stock
$240,000
Less: Accumulated depreciation
(40,000)
186,000
 
Retained earnings
500,000
Trademarks
 
140,000
 
      Total stockholders' equity
$740,000
Total assets
 
$1,050,000
 
           Total liabilities and stockholders' equity
$1,050,000


 
$556,000
 

 
$686,000
 

 
$516,000
 

 
$376,000
 
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