Homework Answers
Answer:
1) Current assets = cash + Prepaid Insurance + Accounts receivable + Inventory
Current assets = $65, 000 + 30,000 + 50,000 + 70,000 = $215, 000
2) Property Plant and Equipment = Land + Building
Property Plant and Equipment = 90,000 + 80,000 = $170, 000
3) Long term Investment = Land for Investment
Long term Investment = $75, 000
4) Long term liabilities = Bonds payable
Long term liabilities = $90, 000
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