Use the Following Data to Determine the Total Dollar Amount

question 99

Multiple Choice

Use the following data to determine the total dollar amount of assets to be classified as investments. $\begin{array} { l } \text {Carne Auto Supplies }\\ \text { Balance Sheet }\\ \text { December 31,2022 }\\\begin{array}{lr}\text { Cash } & \$ 0,000 \\\text { Accounts receivable } & 100,000 \\\text { Inventory } & 140,000 \\\text { Prepaid insurance } & 80,000 \\\text { Stock investments } & 180,000 \\\text { Land } & 190,000\\\text { Buildings } & \$ 230,000 & \\\text { Less: Accumulated } & \\\quad \text { depreciation } (60,000) & 170,000 \\\text { Patent } & 140,000 \\\text { Total assets } & \$ 1,070,000\\\end{array}&\begin{array}{lrr}\text { Accounts payable } & \$ 130,000 \\\text { Salaries and wages payable } & 20,000 \\\text { Mortgage payable } & 180,000 \\\text { Total liabilities } & 330,000\\\\\\\text { Common stock } & 240,000 \\\text { Retained earnings } & 500,000 \\\text { Total stockholders' equity } & 740,000 \\\text { Total liabilities and } & \\\text { stockholders' equity } & \$ 1,070,000\\\end{array}\\\end{array}$

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Definitions:

Negative Advertising

A type of advertising campaign that focuses on pointing out the negative aspects of competitors or their products rather than highlighting one's own positives.

Team Diversity

The inclusion of members with varied backgrounds, experiences, and skills in a team, enhancing creativity and problem-solving.

Ethical Method

A systematic approach to making decisions that consider moral principles and values.

Cross-Functional

Pertaining to a team or process that involves individuals from different departments or areas of expertise working together toward a common goal.