141.The following information is for Acme Auto Supplies: Acme Auto Supplies Statement of Financial Position December 31, 2014 Trademark $ 210,000 Share Capital ...

141.The following information is for Acme Auto Supplies:

Acme Auto Supplies

Statement of Financial Position

December 31, 2014

Trademark			$ 210,000	Share Capital	$360,000
Land		$285,000		Retained Earnings	750,000
Building	$300,000

Depreciation	(90,000)	210,000	495,000
Land Held for Investment			240,000
Prepaid Insurance			120,000	Accounts Payable	195,000
Inventory			210,000	Salaries/Wages Payable	30,000
Accounts Receivable			150,000	Mortgage Payable	270,000	495,000
Cash			180,000			$ 1,110,000
Total Assets			$ 1,605,000	Total Equity and Liabilities		$ 1,605,000

The total dollar amount of assets to be classified as current assets is

a.$660,000.

b.$450,000.

c.$900,000.

d.$540,000.

Acme Auto Supplies

Statement of Financial Position

December 31, 2014

Trademark			$ 210,000	Share Capital	$360,000
Land		$285,000		Retained Earnings	750,000
Building	$300,000

Depreciation	(90,000)	210,000	495,000
Land Held for Investment			240,000
Prepaid Insurance			120,000	Accounts Payable	195,000
Inventory			210,000	Salaries/Wages Payable	30,000
Accounts Receivable			150,000	Mortgage Payable	270,000	495,000
Cash			180,000			$ 1,110,000
Total Assets			$ 1,605,000	Total Equity and Liabilities		$ 1,605,000

The total dollar amount of assets to be classified as property, plant, and equipment is

a.$945,000.

b.$735,000.

c.$495,000.

d.$585,000.

May 15, 2022

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