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1a) These are selected account balances on December 31, 2018. Land (location of the...

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Accounting

1a) These are selected account balances on December 31, 2018.

Land (location of the corporations office building) $120,000

Land (long-term investment, held for future use) 75,000

Corporate Office Building 110,000

Inventory 80,000

Trademark 70,000

Prepaid Insurance 50,000

Accumulated Depreciation 20,000

What is the total amount of property, plant, and equipment that will appear on the balance sheet?

a. $210,000.

b.$230,000.

c.$285,000.

d.$315,000.

The income statement for the month of May, 2018 of Snap Shot, Inc. contains the following information:

Revenues Expenses:

$7,300

Salries and Wages Expense

$3,000

Rent Expense

1,300

Advertising Expense

700

Supplies Expense

200

Insurance Expense

100

Total expenses

5,300

Net income

$2,000

At May 1, 2018, Snap Shot reported owners equity of $36,000. The company had no owner drawings during June. At May 31, 2018, the company will report owners equity of

a. $30,700.

b.$36,000.

c.$38,000.

d.$43,300.

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