The Balances of Select Accounts of Donovan, Inc What Amount of Total Long-Term Assets Would Be Shown on December

question 112

Multiple Choice

The balances of select accounts of Donovan, Inc. as of December 31, 2018 are given below. $$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & \text { Credit } \\\hline \text { Building } & \$ 120,000 & \\\hline \text { Cash } & 9,000 & \\\hline \text { Office Supplies } & 1,000 & \\\hline \text { Furniture } & 4,000 & \\\hline \text { Prepaid Insurance } & 600 & \\\hline \text { Accumulated Depreciation-Furniture } & & \$ 2,000 \\\hline \text { Land } & 33,000 & \\\hline \text { Accumulated Depreciation-Building } & & 4,000 \\\hline \text { Accounts Receivable } & 2,000 & \\\hline\end{array}$$ What amount of total long-term assets would be shown on the balance sheet at December 31, 2018?

• A) $120,000
• B) $151,000
• C) $153,000
• D) $157,000

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