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

question 100

Multiple Choice

The balances of select accounts of Stephanie,Inc.as of December 31,2016 are given below. $$\begin{array} { | l | r | r | } \hline &{ \text { Debit } } & \text { Credit } \\\hline \text { Building } & \$ 100,000 & \\\hline \text { Cash } & 8,000 & \\\hline \text { Office Supplies } & 800 & \\\hline \text { Furniture } & 6,000 & \\\hline \text { Prepaid Insurance } & 500 & \\\hline \text { Accumulated Depreciation-Furniture } & & \$ 4,000 \\\hline \text { Land } & 33,000 & \\\hline \text { Accumulated Depreciation-Building } & & 4,700 \\\hline \text { Accounts Receivable } & 4,000 & \\\hline\end{array}$$ What amount of total long-term assets would be shown on the balance sheet?

• A)$100,000
• B)$130,300
• C)$133,000
• D)$139,000

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Definitions:

Moral Hazard

The tendency of individuals or entities to take riskier actions when they do not bear the full consequences of those actions, often due to having some form of insurance or protection.

Health Insurance

An insurance plan that covers the medical and surgical costs of the policyholder.

Consumers

Individuals or entities that use goods and services produced within an economy.

Government Tax Subsidy

Financial assistance from the government, often in the form of reduced taxes, to encourage or support particular economic activities.