Use the Following Data to Determine the Total Dollar Amount

question 25

Multiple Choice

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

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Definitions:

Immediate Electronic Execution

A system or process that allows financial transactions to be conducted and completed instantaneously via electronic platforms.

Price Improvement

The potential for a trade to be executed at a better price than what is currently quoted publicly, offering a benefit to the buyer or seller.

Private Equity

Investments in companies whose shares are not publicly traded in a stock market.

Investment Banking

A sector of the banking industry that helps individuals and organizations raise capital and provides financial consultancy services.