The balances of select accounts of Donovan, Inc. as of December 31, 2018 are given below....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The balances of select accounts of Donovan, Inc. as of December 31, 2018 are given below. Credit Debit $120,000 Building Cash 9,000 Office Supplies 1,000 Furniture 4,000 Prepaid Insurance 600 Accumulated Depreciation-Furniture $2,000 Land 33,000 Accumulated Depreciation-Building 4,000 Accounts Receivable 2,000 What amount of total long-term assets would be shown on the balance sheet at December 31, 2018? A. $157,000 B. $120,000 OC. $151,000 OD. $153,000 The balances of select accounts of Donovan, Inc. as of December 31, 2018 are given below. Credit Debit $120,000 Building Cash 9,000 Office Supplies 1,000 Furniture 4,000 Prepaid Insurance 600 Accumulated Depreciation-Furniture $2,000 Land 33,000 Accumulated Depreciation-Building 4,000 Accounts Receivable 2,000 What amount of total long-term assets would be shown on the balance sheet at December 31, 2018? A. $157,000 B. $120,000 OC. $151,000 OD. $153,000
Expert Answer:
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
Posted Date:
Students also viewed these accounting questions
-
What specific changes occur on the balance sheet at the completion of the securitization process? What adjustments occur to the risk profile of the FI?
-
Accounts receivable are usually valued on the balance sheet at current value-namely, the amount owing from customers less an allowance for uncollectible accounts. Does this violate the historical...
-
Total liabilities on a balance sheet at the end of the year are $150,000, retained earnings at the end of the year are $80,000, net income for the year is $60,000, common stock is $40,000, and...
-
Which of the following variables was controlled in Experiment 1? F. Amount of yeast G. Percent of molasses H. Percent of sucrose J. Carbon dioxide levels Experiment 1 Since yeast needs sucrose to...
-
Listed below are several terms and phrases associated with earnings per share. Pair each item from List A with the item from List B (by letter) that is most appropriately associated withit. List A...
-
Find a minimal-sum-of-products representation for (a) f(w, x, y) = , m(1, 2, 5, 6) (b) f(w, x, y) = [ M(0, 1,4, 5) (c) f(w, x, y, z) = m(0, 2, 5, 7, 8, 10, 13, 15) (d) f(w, x, y, z) = m{5, 6, 8,...
-
The 2015 annual report of The Procter & Gamble Company (P&G) is available at www.pginvestor.com. After reviewing P&Gs annual report, respond to the following questions: a. P&Gs 2015 statement of cash...
-
Elaydo Inc. makes flavored water and performs the following tasks in the beverage manufacturing process: Hours Receiving and transferring ingredients to storage ......... 9.0 Storing ingredients...
-
Compare a constructive gain on intercompanybonds with an unrealized gain on the intercompanysale of land.
-
Griffin and Lasky, Inc. (G&L), supplies industrial automation equipment and machine tools to the automotive industry. G&L recognizes revenue on its long-term contracts over time. Customer orders have...
-
1. What is the dominant pattern of development in the following passage? Having been raised on a dairy farm in rural Minnesota, Loric Ann Kline was having trouble adjusting to life in the city and to...
-
Using the fact pattern from assignment one (which is attached below), draft ten interrogatories (only four may come from the standard interrogatories under the South Carolina Rules of Civil...
-
What are some of the social effects of violence in the media? Has research proven a conclusive link between violence in the media and violence in society?
-
Do you think Quality Improvement is an effective means to providing quality care? Are there any quality tools that wiill help you on your job. Please explain. What other thoughts do you have about...
-
f your organization wants to be in compliance with the Psychological Health and Safety in the Workplace national standard, what kind of training should the organization provide to employees? a ....
-
1. The focal length of a diverging lens is negative. If f = 16 cm for a particular diverging lens, where will the image be formed of an object located 45 cm to the left of the lens on the optical...
-
Problem #2: Let g(u, v) = Find 9u + 8v u-v a g(u, v) at the point (u, v) = (5,2).
-
The Ferris wheel in the figure has a radius of 68 feet. The clearance between the wheel and the ground is 14 feet. The rectangular coordinate system shown has its origin on the ground directly below...
-
How are the net sales for an accounting period determined?
-
The Victorian Elegance China Shop sells china, stemware, and other gift items. Sales to retail customers are subject to an 8 percent sales tax. The firm sells its merchandise for cash; to customers...
-
What account should be debited for transportation charges related to equipment purchases?
-
Determine the rate of return for Problem 17. Should your company purchase the dump truck? Data From Problem 17: 17. Your company is looking at purchasing a dump truck at a cost of $65,000. The truck...
-
Determine the incremental rate of return for Problem 19. Which track hoe should your company choose? Data From Problem 19: 19. Your company needs to purchase a new track hoe and has narrowed the...
-
Determine the incremental rate of return for Problem 20. Which track hoe should your company choose? Data From Problem 20: 20. Your company needs to purchase a new track hoe and has narrowed the...
Study smarter with the SolutionInn App