The following assets are included in Ace Auto Parts,Inc.’s December 31, 2009, ba

Question

The following assets are included in Ace Auto Parts,Inc.’s December 31, 2009, balance sheet.
Accounts Receivable
(net of Allowance for Uncollectible Accounts)
$50,000
Accumulated Depreciation, Building 20,000
Building 100,000
Cash 60,000
Land 130,000
Land Held for Future Use 40,000
Merchandise Inventory 70,000
Trademark 110,000

The total dollar amount of assets classified as property, plant,and equipment on Ace Auto Parts’ December 31, 2009,classified balance sheet is
a. $210,000
b. $50,000
c. $360,000
d. $430,000
The following assets are included in Ace Auto Parts,Inc.’s December 31, 2009, balance sheet.
Accounts Receivable
(net of Allowance for Uncollectible Accounts)
$50,000
Accumulated Depreciation, Building 20,000
Building 100,000
Cash 60,000
Land 130,000
Land Held for Future Use 40,000
Merchandise Inventory 70,000
Trademark 110,000

The total dollar amount of assets classified as property, plant,and equipment on Ace Auto Parts’ December 31, 2009,classified balance sheet is
a. $210,000
b. $50,000
c. $360,000
d. $430,000

Explanation / Answer

Total = 20000 + 100000 + 130000 + 70000 + 110000 = 430000

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