Business, 15.07.2020 02:01 sydneylocascio26

Use the following data to determine the total dollar amount of assets to be classified as current assets Carne Auto Supplies Balance Sheet December 31, 2012
Cash $60,000 Accounts Payable $65,000
Prepaid Insurance 40,000 Salaries Payable 10,000
Accounts Receivable 50,000 Mortgage Payable 90,000
Inventory 70,000 Total Liabilities $165,000
Land held for investment 80,000
Land 95,000
Buildings $100,000 Common Stock $120,000
Less Accumulated Retained Earnings 250,000
Depreciation (30,000) 70,000 Total stockholder's equity $370,000
Trademarks 70,000 Total Liabilities and Stock equity $535,000
Total Assets $535,000

Choose the correct

a. $245,000
b. $315,000
c. $165,000
d. $195,000

Answers: 1

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