Question

710 720 730 740 750 760 770780796) 305 816 826 830 840 850 860 870 880 890 900 910 920 930 QUESTION 2 The following information is for Bright Eyes Auto Supplies: Bright Eyes Auto Supplies Balance Sheet December 31, 2015 $ 130,000 50,000 150.000 330,000 740.000 Cash $ 40,000 Accounts Payable Prepaid Insurance 80,000 Salaries and Wages Payable Accounts Receivable 100,000 Mortgage Payable Inventory 140,000 Total Liabilities Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Sock $400,000 Less Accumulated Retained Earnings 340,000 Depreciation (60.000) 140,000 Trademark 140.000 Total Liabilities and Total Assets $1.070,000 Stockholders' Equity The total dollar amount of assets to be classified as property, plant, and equipment is A. 5630,000 B. $450,000 C. $570,000 D.$390,000 $1.070.000

Answer 1

Assets classified as property, plant and equipment = Land + Book value of building = 250,000 + 140,000 = 390,000