Question 51 (1 point)

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For Grimmett Company, the following information is available:

Goodwill $600,000

Trademarks 245,000

Long-term receivables 225,000

In Grimmett's balance sheet, intangible assets should be reported at

Question 51 options:

	$245,000
	$275,000
	$845,000
	$875,000

Question 52 (1 point)

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Houghton Company has the following items: common stock, $800,000; treasury stock, $105,000; deferred income taxes, $125,000 and retained earnings, $390,000. What total amount should Houghton Company report as stockholders' equity?

Question 52 options:

	$960,000
	$1,085,000
	$1,210,000
	$1,295,000

Question 53 (1 point)

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Stine Corp.'s trial balance reflected the following account balances at December 31, 2021:

Accounts receivable (net) $19,000

Trading securities 6,000

Accumulated depreciation on equipment and furniture 15,000

Cash 16,000

Inventory 30,000

Equipment 25,000

Patent 4,000

Prepaid expenses 2,000

Land held for future business site 18,000

In Stine's December 31, 2021 balance sheet, the current assets total is

Question 53 options:

	$82,000
	$90,000
	$73,000
	$77,000

Question 54 (1 point)

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Which of the following is most likely to be split into current and long-term portions on the balance sheet?

Question 54 options:

	Bonds payable
	Notes payable
	Prepaid insurance
	Accounts payable