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Use the following data to determine the total dollar amount

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


Retained Earnings 500,000
Depreciation (40,000) 160,000
Total Stockholders' Equity $740,000
Trademarks
140,000
Total Liabilities and
Total Assets
$1,060,000
Stockholders' Equity $1,060,000

Reference no: EM13569335

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