Question: Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Metlock, Inc. Cash Accounts
Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Metlock, Inc. Cash Accounts receivable Inventory Prepaid insurance Stock investments (long-term) Land Buildings Less: Accumulated depreciation Goodwill Total assets Balance Sheet December 31, 2022 $191000 Accounts payable $210000 148000 Salaries and wages payable 31000 151000 Mortgage payable 242500 87000 Total liabilities $483500 262000 250000 $301000 Common stock $309000 (61500) 239500 Retained earnings 747000 Total stockholders' 211000 $1056000 equity Total liabilities and $1539500 $1539500 stockholders' equity
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