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X Company has the following information. Accounts payable $60,000 Accounts receivable 100,000 Accumulated Depreciation-Buildings 300,000 Buildings 1,300,000 Cash 70,000 Common Stock 700,000 Copyright 150,000 Inventory
X Company has the following information. Accounts payable $60,000 Accounts receivable 100,000 Accumulated Depreciation-Buildings 300,000 Buildings 1,300,000 Cash 70,000 Common Stock 700,000 Copyright 150,000 Inventory 140,000 Investments in Stocks & Bonds (Will hold 5 years) 160,000 Investments in Stocks & Bonds (Will hold 5 30,000 months) Land 200,000 Mortgage Payable (30 year) 400,000 Notes payable (Due 7/1/2020) 250,000 Notes payable (Due 7/1/2018) 40,000 Prepaid insurance 10,000 Retained Earnings 320,000 Salaries payable 90,000 Based on the above data, what is the amount of long-term investments on X Compar 12/31/2017 classified balance sheet? Land 200,000 400,000 250,000 Mortgage Payable (30 year) Notes payable (Due 7/1/2020) Notes payable (Due 7/1/2018) Prepaid insurance Retained Earnings Salaries payable 40,000 10,000 320,000 90,000 Based on the above data, what is the amount of long-term investments on X Company's 12/31/2017 classified balance sheet? O $860,000 O $160,000 O $190,000 $890,000
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