171.These are selected account balances on December 31, 2014.
Land (location of the corporation’s office building)$400,000
Land (held for future use)600,000
Office Building2,400,000
Inventory800,000
Equipment1,800,000
Office Furniture400,000
Accumulated Depreciation1,200,000
What is the total amount of property, plant, and equipment that will appear on the statement of financial position?
a.$5,200,000
b.$4,400,000
c.$6,400,000
d.$3,800,000
172. The following selected account balances appear on the December 31, 2014 statement of financial position of Chen Co.
Land (location of the corporation’s office building)$300,000
Land (held for future use)450,000
Office Building1,800,000
Inventory600,000
Equipment1,350,000
Office Furniture300,000
Accumulated Depreciation900,000
What is the total amount of property, plant, and equipment that will be reported on the statement of financial position?
a.$3,900,000
b.$3,300,000
c.$4,800,000
d.$2,850,000
173.Which classification of assets will appear first in the Statement of Financial Position?
a.Current Assets.
b.Long-term investments.
c.Property,Plant and Equipment.
d.Intangible Assets.
174.Which classification of assets will appear last in the Statement of Financial Position?
a.Intangible Assets.
b.Current Assets.
c.Long-term investments.
d.Property,Plant and Equipment.
175.Which account will appear last under the current assets classification on the Statement of Financial Position?
a.Accounts Receivable.
b.Prepaid Expenses.
c.Short-term investments.
d.Cash.
176.Which of the following classification appears last in the Statement of Financial Position?
a.Non-current Liabilities.
b.Equity.
c.Current Liabilities.
d.Reserves.
177.Which of the following is in the proper position?
a.Equity;Current Liabilities;Non-current Liabilities.
b.Equity;Non-current Liabilities;Current Liabilities.
c.Current Liabilities;Non-current Liabilities;Equity.
d.Non-Current Liabilities; Current Liabilities;Equity.
178.The following data (in thousands) is available for Chang Company.
DebitCredit
Mortgage payable¥ 1,886
Prepaid expenses¥ 1,760
Equipment23,000
Patents528
Short-term investments7,380
Notes payable in 2014962
Cash5,336
Accumulated depreciation11,310
Accounts payable2,888
Notes payable after 2014736
Share capital-ordinary20,000
Retained earnings6,126
Accounts receivable3,392
Inventories 2,512
Total¥ 43,908¥ 43,908
Multiple Choice 178.
(Cont.)
a.¥43,908.
b.¥32,598.
c.¥55,218.
d.¥30,838.
179.The following data (in thousands) is available for Chang Company.
DebitCredit
Mortgage payable¥ 1,886
Prepaid expenses¥ 1,760
Equipment23,000
Patents528
Short-term investments7,380
Notes payable in 2014962
Cash5,336
Accumulated depreciation11,310
Accounts payable2,888
Notes payable after 2014736
Share capital-ordinary20,000
Retained earnings6,126
Accounts receivable3,392
Inventories 2,512
Total¥ 43,908¥ 43,908
a.¥11,690.
b.¥18,620.
c.¥23,000.
d.¥20,380.
180.The following data (in thousands) is available for Chang Company.
DebitCredit
Mortgage payable¥ 1,886
Prepaid expenses¥ 1,760
Equipment23,000
Patents528
Short-term investments7,380
Notes payable in 2014962
Cash5,336
Accumulated depreciation11,310
Accounts payable2,888
Notes payable after 2014736
Share capital-ordinary20,000
Multiple Choice 180.
(Cont.)
Retained earnings6,126
Accounts receivable3,392
Inventories 2,512
Total¥ 43,908¥ 43,908
a.¥20,380
b.¥18,620
c.¥528
d.¥7,380