Professional Windows reported the following balances on December 31, 2019. Calculate total assets on Professional Windows' balance sheet.

Account Name	Balance
Accounts payable	14,500
Accounts receivable	28,200
Accumulated depreciation	125,500
Allowance for doubtful accounts	2,100
Cash	67,890
Inventory	36,100
Notes payable (due in 18 months)	27,600
Notes receivable (due in 9 months)	8,200
Prepaid rent	3,600
Prepaid insurance	5,700
Property, plant & equipment	370,000
Salaries payable	6,800
Supplies	2,200
Taxes payable	4,800
Unearned revenue	1,500
Utilities payable	790

Multiple Choice

• $521,890

• $396,390

• $394,290

• $398,490

  Elephant Company calculated depreciation per year of $8,000 on a building it purchased on January 1, 2019. How much accumulated depreciation will appear in the December 31, 2020 financial statements?

  Multiple Choice

• $12,000

• $24,000

• $16,000

• $8,000

  Typewriter Plus purchased equipment for $40,000 on September 30, 2019. The equipment has a residual value of $8,000 and estimated life of 8 years. Calculate the net book value of the equipment on December 31, 2020.

  Multiple Choice

• $32,000

• $28,000

• $35,000

• $36,000