Kramer and Associates Has the Following Account Balances Listed in Alphabetical

question 87

Multiple Choice

Kramer and Associates has the following account balances listed in alphabetical order: Accumulated Depreciation, $18,000; Accounts Payable, $7,500, Accounts Receivable, $13,000; Cash, $2,000; Equipment, $46,000, Land, $21,000, Mortgage Payable, $42,000; Prepaid Insurance, $5,500; Supplies, $1,000; Unearned Revenue, $4,000; Wages payable, $6,000. Kramer and Associates' long-term assets are:

• A)$15,000.
• B)$21,500.
• C)$49,000.
• D)$66,500.