A corporation's trial balance reflected the following account balances at December 31, 20X3. SELECTED ASSET ACCOUNT...

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A corporation's trial balance reflected the following account balances at December 31, 20X3. SELECTED ASSET ACCOUNT BALANCES FROM TRIAL BALANCE AT DECEMBER 31, 20X3 24,000 Accounts Receivable (net) 6,000 Trading Securities Accumulated Depreciation, Furniture and Equipment 15,000 Cash 11,000 Inventory 30,000 25,000 Equipment Patent 4,000 Prepaid Expenses 2,000 Land Held For Future Business Use 18,000 In the corporation's balance sheet dated December 31, 20X3, the current assets total should be: (a) $90,000. (b) (c) (d) $82,000. $77,000. $73,000. Using the information from Question 10, what amount would the corporation report as the total amount for the classification Property, Plant, and Equipment? $10,000. 1. (a) (b) (c) (d) $33,000. $37,000. $43,000. 2. Which of the following would normally be classified as a long term liability? (a) Income taxes payable. (b) Bonds payable. (c) (d) Accounts payable. Accrued liabilities. A corporation's trial balance reflected the following account balances at December 31, 20X3. SELECTED ASSET ACCOUNT BALANCES FROM TRIAL BALANCE AT DECEMBER 31, 20X3 24,000 Accounts Receivable (net) 6,000 Trading Securities Accumulated Depreciation, Furniture and Equipment 15,000 Cash 11,000 Inventory 30,000 25,000 Equipment Patent 4,000 Prepaid Expenses 2,000 Land Held For Future Business Use 18,000 In the corporation's balance sheet dated December 31, 20X3, the current assets total should be: (a) $90,000. (b) (c) (d) $82,000. $77,000. $73,000. Using the information from Question 10, what amount would the corporation report as the total amount for the classification Property, Plant, and Equipment? $10,000. 1. (a) (b) (c) (d) $33,000. $37,000. $43,000. 2. Which of the following would normally be classified as a long term liability? (a) Income taxes payable. (b) Bonds payable. (c) (d) Accounts payable. Accrued liabilities.

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SOLUTION n the Gorporations balance choot dated December 21 20x3 the curre... View the full answer