Use the following data to determine the total dollar amount of assets to be classified as investments.

Use the following data to determine the total dollar amount of assets to be classified as investments.

Koonce Office Supplies
Balance Sheet
December 31, 2012
Cash		$130,000		Accounts Payable	$140,000
Prepaid Insurance		60,000		Salaries Payable	20,000
Accounts Receivable		100,000		Mortgage Payable	160,000
Inventory		140,000		Total liabilities	$320,000
Land held for Investment		150,000
Land		180,000
Buildings	$200,000			Common Stock	$240,000
Less Accumulated Depreciation	(40,000)	160,000		Retained Earnings	500,000
Trademarks		140,000		Total Stockholders' Equity	$740,000
Total Assets		$1,060,000		Total Liabilities and Stockholders' Equity	$1,060,000

 

$0.

 

$360,000.

 

$300,000.
$150,000.

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