Use the Following Data to Determine the Total Dollar Amount

question 82

Multiple Choice

Use the following data to determine the total dollar amount of assets to be classified as investments. $\begin{array} { l } \text { Koonce Office Supplies}\\ \text { Balance Sheet }\\ \text { December 31,2022}\\\begin{array}{lr}\text { Cash } & \$ 195,000 \\\text { Accounts receivable } & 150,000 \\\text { Inventory } & 165,000 \\\text { Prepaid insurance } & 90,000 \\\text { Stock investments } & 255,000 \\\text { Land } & 270,000\\ \text { Buildings}&\$315,000\\ \text {Less: Accumulated }\\\text { depreciation } (60,000) & 255,000 \\\text { Trademarks } & 210,000 \\\text { Total assets } & \$ 1590,000\\\end{array}&\begin{array}{lr}\text { Accounts payable } & \$ 210,000 \\\text { Salaries and wages payable } & 30,000 \\\text { Mortgage payable } & 240,000 \\\quad \text { Total liabilities } & 480,000\\\\\\\text { Common stock } & 360,000 \\\text { Retained earnings } & {750,000} \\\text { Total stockholders' equity } & 1,110,000 \\\text { Total liabilities and } & \\\text { stockholders' equity } & \$ 1590,000\\\end{array}\end{array}$

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Definitions:

Cooperative

Involving mutual assistance in working toward a common goal or undertaking shared efforts for mutual benefit.

Interpersonal Conflict-Handling Styles

Different approaches or strategies individuals use to manage disagreements or disputes with others, including avoidance, accommodation, competition, compromise, and collaboration.

Assertive

Displaying a confident and forceful personality, able to express one's opinions and needs directly and honestly.

Cross-Team Workouts

Activities or initiatives designed to enhance collaboration and productivity among different teams within an organization.