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Alamo Freeze Corporation starts in business on October 1, and here are some of its transactions during the next three months: Oct. 1 - Paid
Alamo Freeze Corporation starts in business on October 1, and here are some of its transactions during the next three months:
- Oct. 1 - Paid one year's rent of $12,000.
- Oct. 1 - Bought equipment for $18,000 cash . The equipment is expected to last 6 years and then be worthless.
- Oct. 1 - Bought inventory for $12,000 on account.
- Nov. 1 - Bought land for $21,000 cash.
- Nov. 14 - Sold $2,000 of inventory for $9,500 cash.
- Dec. 10 - Sold $3,500 of inventory for $18,000 on account.
- Dec. 20 - Sold one-half of land for $12,000 in cash.
- Dec. 31 - Paid a dividend of $2,000.
How much were Alamo Freeze's total net fixed assets at December 31, 2020?
Group of answer choices
$28,500
$27,750
$17,250
$38,250
None of the above
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