Came Auto Supplies Balance Sheet December 31 Cash Prepaid Insurance Accounts Receivable Inventory Land Buildings S 60,000 40,000 50,000 150,000 95,000 Accounts Payable Salaries Payable Mortgage Payable Total Liabilities S65,000 10,000 90.000 $165,000 $120,000 250,000 Depreciation (30,000) 70,000 Total stockholders' equity $370.000 Common Stock Retained Earnings S100,000 Less Accumulated Trademarks Total Assets 70.000 Total Liabilities and $535,000 Stockholders' Equity $535.000 12. Use the data above to determine the total dollar amount of assets to be classified as property plant, and equipment. a. $315,000. b. $245,000. c. $165,000. d. $195,000. 13. On a classified balance sheet, current assets are customarily listed a in alphabetical order b. with the largest dollar amounts first c. in the order in which they are expected to be converted into cash. d. in the order of acquisition. Generally accepted accounting principles a. are accounting rules formulated by the Internal Revenue Service. b. are sound in theory but rarely used in real life. c. are accounting rules that are recognized as a general guide for financial reporting d. have eliminated all errors in accounting. 14. The purchase of equipment for cash a. increases assets and stockholders' equity. b. increases assets and liabilities. 15. decreases assets and increases liabilities. c. d. leaves total assets unchanged