Use the Following Data to Determine the Total Dollar Amount
Question 56
Question 56
Multiple Choice
Use the following data to determine the total dollar amount of assets to be classified as investments. Edie’s Flomer Shoppe Balance Sheet December 31,2022 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings Less: Accumulated depreciation (60,000) Trademarks Total assets $126,000120,000210,00090,000255,000285,000$339,000279,000210,000$1575,000 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Common stock Retained earnings Total stockholders’ equity Total liabilities and stockholders’ equity $165,00030,000270,000465,000$360,000750,0001,110,000$1,575,000
A) $0 B) $465000 C) $255000 D) $585000
Correct Answer:
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