Use the Following Data to Determine the Total Dollar Amount

question 118

Multiple Choice

Use the following data to determine the total dollar amount of assets to be classified as investments. Carne Auto Supplies
Balance Sheet
December 31, 2017
$\begin{array}{lrlr}\text { Cash } & \$ 70,000 & \text { Accounts payable } & \$ 130,000 \\\text { Accounts receivable } & 100,000 & \text { Salaries and wages payable } & 20,000 \\\text { Inventory } & 140,000 & \text { Mortgage payable } & 180,000 \\\text { Prepaid insurance } & 80,000 & \text { Total liabilities } & \$ 330,000 \\\text { Stock investments } & 180,000 & &\\\text { Land } & 190,000 \\\text { Buildings } \quad \$ 230,000 &&\text { Common stock }&\$240,000\\\text { Less: Accumulated }&&\text { Retained earnings }&500,000\\\text { depreciation }\quad(60,000) &170,000&\text { Total stockholders' equity }&\$740,000\\\text { Trademarks } & 140,000&\text { Total liabilities and }\\\text { Total assets }&\$1,070,000&\text { stockholders' equity }&\$1,070,000\end{array}$

• A)$0
• B)$320,000
• C)$180,000
• D)$280,000

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Definitions:

Media

Channels or systems of communication used to distribute information or entertainment to a large audience.

Stereotypes

Oversimplified and widely held beliefs about the characteristics of groups of people, which can lead to misconceptions and prejudicial attitudes.

Television

A system for transmitting visual images and sound that are reproduced on screens, primarily used for broadcasting programs for entertainment, information, and education.

Male Gender Role

Social and cultural expectations placed on individuals identifying as male, including behaviors, activities, and traits deemed appropriate for their gender.