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Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Eddy Auto Supplies Balance
Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Eddy Auto Supplies Balance Sheet December 31, 2017 Cash $126,000 Accounts payable $165,000 Salaries and wages Accounts receivable 120,000 30,000 payable Inventory 210,000 Mortgage payable 270,000 Prepaid insurance 90,000 Total liabilities $465,000 Stock Investments 255,000 Land 285,000 Buildings $339,000 Common stock $360,000 Less: Accumulated depreciation (60,000) 279,000 Retained earnings 750,000 Total stockholders' Trademarks: 210,000 $1,110,000 equity Total liabilities and Total assets $1,050,000 stockholders' $1,575,000 equity
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