Reference no: EM132969634

A property management business had the following account balances on January 31, 2020 after all the year-end adjusting entries were posted. All accounts have normal balances.

Unearned rent 2,500
rent revenue 78,700
accounts receivable 19,100
depreciation expense 21,300
maintenance expense 15,700
notes payable 15,000
cash 8,500
building 210,100
land 50,100
owners drawings 22,600
accumulated depreciation 168,300
owners capital Feb 1,2019. 104,100
prepaid insurance 2,400
accounts payable 2,000
insurance expense. 4,900
notes receivable 15,900

Additional Information
1. $9,500 of the note payable outstanding as of January 31, 2020 will be repaid by the end of 2020.
2. The note receivable will be collected before the end of the upcoming year.

Problem 1: What is total Current Assets in dollars ($)?:

Option 1: $41,500
Option 2: $46,300
Option 3: $45,900
Option 4: $28,000

Problem 2: What is total Property, Plant and Equipment in dollars ($)

Option 1: $120,400
Option 2: $41,800
Option 3: $260,200
Option 4: $91,900

Problem 3: What is total Current Liabilities in dollars ($)?:

Option 1: $19,500
Option 2: $17,500
Option 3: $12,000
Option 4: $14,000

Problem 4: What was the Total Liabilities in dollars ($)?:

Option 1: $19,500
Option 2: $17,500
Option 3: $17,000
Option 4: $15,000