The Following Information Is for Qwik Auto Supplies The Total Dollar Amount of Assets to Be Classified as

question 40

Multiple Choice

The following information is for Qwik Auto Supplies: $\begin{array}{c} \text { Qwik Auto Supplies }\\ \text { Balance Sheet }\\ \text { December 31, 2016}\\\\\begin{array}{lll} \text { Cash}& & \$ 45,000 \\ \text { Prepaid Insurance } & & 80,000 \\ \text { Accounts Receivable } & & 110,000 \\ \text {Inventory} & & 140,000 \\\text {Land Held for Investme } & & 185,000 \\\text {Land }& & 250,000 \\ \text { Building } & \$ 200,000 & \\\text { Less Accumulated } \\\text { Depreciation } & (50,000) &150,000 \\ \text { Trademark } & &140,000 \\ \text {Total Assets}&&\$1,100,000\\\end{array}\begin{array}{lr}\text { Accounts Payable } & \$ 140,000 \\\text { Salaries and Wages Payable } & 60,000 \\\text { Mortgage Payable } & 150,000\\\quad \text { Total Liabilities } & 350,000\\\\\\\\\text { Owner's Capital } &750,000 \\\\\text { Total Liabilities and } & \\\text { Owner's Equity } & \$1,100,000\end{array}\end{array}$

The total dollar amount of assets to be classified as investments is

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Definitions:

Asch Studies

A series of psychological experiments conducted by Solomon Asch, demonstrating the effects of social pressure on conformity.

Line-Length Judgments

The evaluation or estimation of the length of lines, which can be influenced by visual illusions or perceptual biases.

Compliance Tactics

Techniques used to persuade or influence others to agree with or obey a particular request or command.

Chameleon Effect

The unconscious mimicry of the postures, mannerisms, facial expressions, and other behaviors of one's interaction partners, reflecting social adaptation.