Question: Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31,

Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31, 2017 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $ 165,000 30,000 270.000 $465,000 Cash $ 126,000 Accounts receivable 120.000 Inventory 210,000 Prepaid insurance 90,000 Stock investments 255,000 Land 285,000 Buildings $339,000 Less: Accumulated depreciation (60,000 279,000 Trademarks 210.000 Total assets $1.575.000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $360,000 750.000 $1,110,000 $1.575.000 $801,000 $336,000 $546,000 $456,000
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