The Balances of Select Accounts of Sandra Company as at December

question 14

Multiple Choice

The balances of select accounts of Sandra Company as at December 31, 2015 are given below: $$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & { \text { Credit } } \\\hline \text { Building } & \$ 120,000 & \\\hline \text { Cash } & 5,000 & \\\hline \text { Office Supplies } & 700 & \\\hline \text { Furniture } & 3,000 & \\\hline \text { Prepaid Insurance } & 450 & \\\hline \text { Accumulated Depreciation-Furniture } & & \$ 1,000 \\\hline \text { Land } & 35,000 & \\\hline \text { Accumulated Depreciation-Building } & & 4,800 \\\hline \text { Accounts Receivable } & 2,500 & \\\hline\end{array}$$
-Refer to the table above.What are the total long-term assets that would be shown on the balance sheet?

• A) $120,000
• B) $152,200
• C) $155,000
• D) $158,000

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Definitions:

Toxic Sites

Locations contaminated with hazardous substances that pose a risk to human health and the environment.

Native Americans

Indigenous peoples of the United States, including both the mainland and Alaska, with distinct cultures, languages, and histories.

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The process by which society categorizes individuals into different groups based on characteristics such as economic status, profession, age, or race.

Modernization

Modernization refers to the process of transformation from traditional or pre-industrial societies to modern societies characterized by industrialization, urbanization, and cultural change.