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Question 23 Not yet answered Marked out of 1.00 P Flag question The following information was extracted from the trial balance before adjustments of ABC
Question 23 Not yet answered Marked out of 1.00 P Flag question The following information was extracted from the trial balance before adjustments of ABC Company on Dec 31st 2020: inventory 240,000 supplies 25,000 equipment 120,000 vehicles 75.000 notes receivables 100,000 Equipment - ACC.Dep 50,000 vehicles - ACC.Dep 25.000 prepaid insurance 30.000 petty cash 10,000 cash in banks 30,000 trading securities 60,000 building to lease out 200,000 additional information: - 30% of the notes receivables due next year - fair value of trading securities on Dec 31st 2020 is $50,000 - insurance policy was purchased on the 1st of Jan 2020 for 2 years. based on this information, total other assets to be reported in the statement of financial position is Select one: O a. $15,000 b. $30,000 c. SO ENER2Rpage=22#
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