Use the following data to determine the total dollar amount of assets to be clas

Question

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

$695000

$550000

$960000

$495000

Nash's Trading Post, LLC Balance Sheet December 31, 2017 Cash $185000 Accounts payable $195000 Accounts receivable 140000 Salaries and wages payable 25000 Inventory 150000 Mortgage payable 225000 Prepaid insurance 85000 Total liabilities $445000 Stock investments 250000 Land 250000 Buildings $300000 Common stock $335000 Less: Accumulated depreciation (55000) 245000 Retained earnings 725000 Trademarks 200000       Total stockholders' equity $1060000 Total assets $1505000            Total liabilities and            stockholders' equity $1505000

Explanation / Answer

Answer is $495000 Explanation: Property Plant & equipment: Land 250000 Building 300000 Less: Accumulated dep 55000 245000 Total Property Plant and Equipment 495000

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.