Question
Use the folllowing information to find the total long-term assets of Koonce Office Supplies: Koonce Office Supplies Balance Sheet 12/31/20xx Cash 195,000 Accounts Receivable 150,000
Use the folllowing information to find the total long-term assets of Koonce Office Supplies: Koonce Office Supplies Balance Sheet 12/31/20xx Cash 195,000 Accounts Receivable 150,000 Inventory 165,000 Prepaid Insurance 90,000 Long-term stock Investments 255,000 Land 270,000 Buildings 315,000 Less: Accumulated Depreciation -60,000 255,000 Goodwill 210,000 Total Assets $1,590,000 Accounts Payable $210,000 Salaries and wages payable 30,000 Mortgage payable 240,000 Total Liabilities $480,000 Common Stock 360,000 Retained Earnings 750,000 Total stockholders' equity 1,110,000 Total liabilities and stockholders' equity $1,590,000 Question 50 options: $1,050,000 $990,000 $1,080,000 $1,590,000
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