Use the Following Data to Determine the Total Dollar Amount

question 70

Multiple Choice

Use the following data to determine the total dollar amount of assets to be classified as current assets. $\begin{array} { l } \text {Edie's Flomer Shoppe }\\\text {Balance Sheet }\\\text { December 31,2022 }\\\begin{array}{lr}\text { Cash } & \$ 126,000 \\\text { Accounts receivable } & 120,000 \\\text { Inventory } & 210,000 \\\text { Prepaid insurance } & 90,000 \\\text { Stock investments } & 255,000 \\\text { Land } & 285,000\\\text { Buildings } & \$ 339,000 & \\\text { Less: Accumulated } & & \\\quad \text { depreciation } (60,000) & 279,000 \\\text { Trademarks } & 210,000 \\\text { Total assets } & \$ 1575,000\end{array}&\begin{array}{lr}\text { Accounts payable } & \$ 165,000 \\\text { Salaries and wages payable } & 30,000 \\\text { Mortgage payable } & 270,000 \\\hline \text { Total liabilities } & 465,000\\\\\\\text { Common stock } & \$ 360,000 \\\text { Retained earnings } &{750,000}\\\text { Total stockholders' equity } & 1,110,000 \\\text { Total liabilities and } & \\\text { stockholders' equity } & \$ 1,575,000\end{array}\end{array}$

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Definitions:

Experimenter Bias

A form of research bias where the expectations or preferences of the researcher unconsciously influence the outcome of the study.

Single-blind Experiment

An experimental design in which the participants do not know which group (experimental or control) they belong to, but the researchers do.

Debriefing Session

A meeting where participants or researchers discuss the procedures, findings, or experiences related to an experiment or event, often conducted after the conclusion of the event.

Practical Implications

The real-world effects or applications that stem from research findings or theoretical concepts.