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

question 158

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 property plant and equipment is

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Definitions:

Economic Growth

An increase in the amount of goods and services produced per head of the population over a period of time, often measured as the rate of increase in the gross domestic product (GDP).

Regulatory Approach

Strategies and actions taken by government or organizations to control or direct activities, often through rules and regulations.

Market Signals

Information or indicators derived from market behavior that help to inform decisions or predictions about future economic activities.

Special Interest Influence

The impact that interest groups or lobbyists can have on policymaking, often aiming to benefit a specific sector or group.