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The following accounts are extracted from the books of X Inc. on December 31, 2020: Accounts Payable S 162,000 counts Receivable 180,000 Accumulated Depreciation Building
The following accounts are extracted from the books of X Inc. on December 31, 2020: Accounts Payable S 162,000 counts Receivable 180,000 Accumulated Depreciation Building 82.500 Accumulated Deteciation Land Improwement 49.500 Allowance for Doubtful Accounts 45,000 Bond sinking fund 90,000 Honds Payable 500.000 Building 990,000 Cash 300,000 Common Stock 324,000 Goodwill Inventory which had a cost of $420,000 and a market price of S360,000 Investment in stock 210,000 Land 664,000 Land Improvement 132.000 Mortgage Payable 252.000 Notes Payable (8 months 144.000 Patent 82.500 Premium on Bonds Payable 84.000 Premium on Common Stock 756.000 Retained aming 900.000 I'rading securities which had a cost of $30,000 and a market price of $45.000 Treasury Stock ? Unearned Service Revenue Based on the data above, total current assets were: * $900,000 $885,000 $960,000 None of the above Based on the data above, land improvement had a net book value of: $7,425,000 $132,000 $82,500 None of the above Based on the data above, total long term liabilities were: * $840,000 $588,000
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