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Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Koonce Office Supplies Balance Sheet
Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Koonce Office Supplies Balance Sheet December 31, 2022 Cash $ 195,000 Accounts payable $ 210,000 Accounts receivable 150,000 Salaries and wages pavable 30,000 Inventory 165,000 Mortgage payable 240.000 Prepaid insurance 90.000 Total liabilities 480,000 Stock investments 255,000 Land 270,000 Buildings 5315,000 Common stock 360,000 Less: Accumulated Retained earning 250.000 depreciation (60.000 255.000 Total stockholders equity 1110.000 Trademarks 210.000 Total liabilities and Total assets 190.00 stockholders equity 512520.000 $990,000 $525,000 $735,000 $585,000
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