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In: Accounting

Answer questions 16-21 using the following information: The following information is for Qwik Auto Supplies: Qwik...

Answer questions 16-21 using the following information:

The following information is for Qwik Auto Supplies:

Qwik Auto Supplies

Balance Sheet

31.12.2019

Cash $ 45.000 Banks Loans (ST) $ 140.000

Accounts Receivable 110.000 Accounts Payable 60.000

Inventory 140.000 Bank Loans (LT) 150.000

Prepaid Expenses 80.000 Total Liabilities 350.000

Associates 185.000

Land 250.000

Building $200.000

Less Accumulated Capital 750.000

Depreciation (50.000) 150.000

Trademark 140.000 Total Liabilities and

Total Assets $1.100.000 Shareholders’ Equity $1.100.000

The total dollar amount of assets to be classified as current assets is

a. $110.000

b. $375.000

c. $560.000

d. $810.000

The total dollar amount of assets to be classified as property, plant, and equipment is

a. $400.000

b. $450.000

c. $500.000

d. $635.000

The total dollar amount of assets to be classified as non-current assets is

a. $375.000

b. $450.000

c. $725.000

d. $140.000

The total dollar amount of liabilities to be classified as current liabilities is

a. $60.000

b. $140.000

c. $200.000

d. $350.000

The total dollar amount of intangible assets is

a. $1.100.000

b. $140.000

c. $235.000

d. $450.000

The total dollar amount of liabilities to be classified as non-current liabilities is

a. $1.100.000

b. $150.000

c. $245.000

d. $450.000

Expert Solution

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

ekkarill92 answered 1 year ago

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