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2010-2020 atlon 19 yot answered ced out of 1.00 Jag question The following information was extracted from the trial balance before adjustments of ABC Company
2010-2020 atlon 19 yot answered ced out of 1.00 Jag question The following information was extracted from the trial balance before adjustments of ABC Company on Dec 31st 2020: inventory 240,000 supplies 25,000 equipment 120,000 vehicles 75,000 notes receivables 100,000 Equipment - ACC.Dep 50,000 vehicles - ACC.Dep 25,000 prepaid insurance 30.000 petty cash 10,000 cash in banks 30.000 trading securities 60,000 building to lease out 200.000 additional information: - 30% of the notes receivables due next year - fair value of trading securities on Dec 31st 2020 is $50,000 - insurance policy was purchased on the 1st of Jan 2020 for 2 years. based on this information, total investment to be reported in the statement of financial position is Select one: a. $200,000 b. $260,000 c. $250,000 d. $270,000
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