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:

Revenue Streams

Different sources from which a business earns money from selling goods or providing services.

Consumer-Brand Relationship

The dynamic between consumers and brands, characterized by the depth of emotional connection and loyalty.

Strategic Outlook

A long-term planning perspective that helps organizations align their actions with their goals and adapt to changing environments.

Negative Equity

occurs when the value of an asset is less than the outstanding balance on the loan used to purchase that asset.