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10. A corporation's trial balance reflected the following account balances at December 31, 20X3. SELECTED ASSET ACCOUNT BALANCES FROM TRIAL BALANCE AT DECEMBER 31, 20x3

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10. A corporation's trial balance reflected the following account balances at December 31, 20X3. SELECTED ASSET ACCOUNT BALANCES FROM TRIAL BALANCE AT DECEMBER 31, 20x3 Accounts Receivable (net) Trading Securities Accumulated Cash Inventory Equipment Patent Prepaid Expenses Land Held For Future Business Use 24,000 6,000 15,000 11,000 30,000 25,000 4.000 2,000 18,000 Depreciation, Furniture and Equipment In the corporation's balance sheet dated December 31, 20X3, the current assets total should be: (a) $90,000. (b) $82,000. (c) $77,000 (d) $73,000 Using the information from Question 10, what amount would the corporation report as the total amount for the classification Property, Plant, and Equipment? (a) $10,000 (b) $33,000. (c) $37,000. (d) $43,000. 11. Which ofthe following would normally be classified as a longterm liability? (a) -12. (b) (c) (d) Income taxes payable. Bonds payable. Accounts payable. Accrued liabilities

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