contestada

Use the data to determine the total dollar amount of assets to be classified as current assets

Cash $126,000
A/R $120,000
Inventory $210,000
Prepaid insurance 90000
Stock investments 255,000
land 285,000
buildings 339,000
Building depreciation (60,000) --> total = 279,000
trademarks 210,000
Total assets = $1,050,000

A/P 165,000
salaries payable 30,000
mortgage payable 270,000
total liabilities= $465,000

Common Stock 360,000
retained earnings 750,000
total stockholders equity: $1,110,000
Total liabilities and stockholders equity: 1,575,000.

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