central ave real estate balance sheet 201

MUU J100,000. Elght percent is due to the track and will be remitted by October 10. 16 The following information is for Central Avenue Real Estate Central Avenue Real Estate Balance Sheet December 31, 2016 20 Cash $ 25,000 Accounts Payable $ 60,000 Prepaid Insurance 40,000 Salaries and Wages Payable 25,000 Accounts Receivable 50,000 Mortgage Payable 85,000 Inventory 80,000 Total Liabilities 170,000 Land Held for Investment 75,000 / Land 120,000) Building $110,000 Less Accumulated Owner's Capital 380,000 Depreciation (20,000) 90,000 Trademark 70,000 Total Liabilities and Total Assets $550,000 Owner's Equity $550,000 236 The total dollar amount of assets to be classified as current assets is $115,000 b. $195,000 $200,000. $270,000