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ACM, INC had the following Assets and Liabilities listed on their year end balance sheet: Cash $420,000 Land $225,000 Building $400,000 Accounts Receivable $700,000 Accounts
ACM, INC had the following Assets and Liabilities listed on their year end balance sheet:
Cash | $420,000 |
Land | $225,000 |
Building | $400,000 |
Accounts Receivable | $700,000 |
Accounts Payable | $550,000 |
Accrued Expenses | $40,000 |
Long-Term Notes Payable | $300,000 |
Short-Term Notes Payable | $170,000 |
Inventory | $280,000 |
Prepaid Expenses | $90,000 |
Vehicles | $350,000 |
Accum Depr (for Vehicles) | $150,000 |
Select one:
a. $525,000
b. $930,000
c. $1,255,000
d. $680,000
e. $730,000
f. $710,000
g. $770,000
h. $1,230,000
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