Use the following information to answer questions
MARCOTTE MASONARY LTD.
Statement of Financial Position
December 31, 2015

-The total amount in the contra asset accounts is
A)$ 60,000.
B)$ 85,000.
C)$210,000.
D)$235,000.

Question

Use the following information to answer questions 
MARCOTTE MASONARY LTD.
Statement of Financial Position
December 31, 2015
 
-The total amount in the contra asset accounts is
A)$ 60,000. 
B)$ 85,000. 
C)$210,000. 
D)$235,000.

Quizplus · Accepted Answer

The contra asset accounts are accumulated depreciation ($75,000) and allowance for doubtful accounts ($10,000). Therefore, the total amount would be $85,000.

Use the Following Information to Answer Questions