Question

US Kimmel, Accounting, 7e End Time: 01:32 PM / Remaining: 81 min. RCES Question 6 Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Cash Accounts receivable Inventory Prepaid insurance Stock Investments Land Buildings Less: Accumulated depreciation Goodwill Marigold Corp. Balance Sheet December 31, 2022 $186000 Accounts payable 153000 Salaries and wages payable 172000 Mortgage payable 87100 Total liabilities 253000 257000 $311000 Common stock (58000) 253000 Retained earnings 200000 Total stockholders' equity $1561100 Total liabilities and stockholders' equity $205000 28000 231500 $464500 Its by Study $350100 746500 $1096600 $1561100 Total assets $975000 $568000 $510000 $710000 Click if you would like to show Work for this questions Open Show Work A

Answer 1

Answer:

Option 3 is the correct answer i.e $510,000

Explanation:

Land	$      257,000
Buildings less accumulated depreciation	253,000
Total dollar amount	$      510,000