Question: Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Eddy Auto Supplies Balance Sheet

Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment.

Eddy Auto Supplies 

Balance Sheet 

December 31, 2014 

Cash

$84,000

Accounts payable
$110,000
Accounts receivable

80,000

Salaries and wages payable
20,000
Inventory

140,000

Mortgage payable
180,000
Prepaid insurance

60,000

Total liabilities
$310,000
Stock Investments

170,000



Land

190,000



Buildings
$226,000


Common stock
$240,000
Less: Accumulated depreciation
(40,000)
186,000

Retained earnings
500,000
Trademarks

140,000

Total stockholders\' equity
$740,000
Total assets

$1,050,000

Total liabilities and stockholders\' equity
$1,050,000


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