Question
Answer questions 16-21 using the following information: The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet 31.12.2019 Cash $ 45.000 Banks
Answer questions 16-21 using the following information:
The following information is for Qwik Auto Supplies:
Qwik Auto Supplies
Balance Sheet
31.12.2019
Cash $ 45.000 Banks Loans (ST) $ 140.000
Accounts Receivable 110.000 Accounts Payable 60.000
Inventory 140.000 Bank Loans (LT) 150.000
Prepaid Expenses 80.000 Total Liabilities 350.000
Associates 185.000
Land 250.000
Building $200.000
Less Accumulated Capital 750.000
Depreciation (50.000) 150.000
Trademark 140.000 Total Liabilities and
Total Assets $1.100.000 Shareholders Equity $1.100.000
- The total dollar amount of assets to be classified as current assets is
a. $110.000
b. $375.000
c. $560.000
d. $810.000
- The total dollar amount of assets to be classified as property, plant, and equipment is
a. $400.000
b. $450.000
c. $500.000
d. $635.000
- The total dollar amount of assets to be classified as non-current assets is
a. $375.000
b. $450.000
c. $725.000
d. $140.000
- The total dollar amount of liabilities to be classified as current liabilities is
a. $60.000
b. $140.000
c. $200.000
d. $350.000
- The total dollar amount of intangible assets is
a. $1.100.000
b. $140.000
c. $235.000
d. $450.000
- The total dollar amount of liabilities to be classified as non-current liabilities is
a. $1.100.000
b. $150.000
c. $245.000
d. $450.000
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