9-12

9. Use the following data to determine the total dollar amount of assets to be classified as Koonce Office Supplies Balance Sheet December 31,2017 s 210,000 0,000 195,000 Accounts payable Accounts receivable 150,000 165,000 Salaries and wages payable Mortgage payable 240.00 480,000 Total liabilities Stock investments (long-term) 255,000 315,000 Common stock depeeciation 0) 255,000 Total stockholders' equity $1100.000 Trademarks Total assets 210.000 Total liabilities and equity A) $435,000 B) $855,000 C) $600,000 D) $510,000 Page 3 10. Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment Koonce Oflce Supplies Balance Sheet Docember 31, 2017 195,000 Accounts payable $ 210,000 130,000 Salaries and wages payable 30,000 242.00 $480,000 Accounts receivable 165,000 Mortgage payable 90,000 Total liabilities Stock investments (long-serm) 255,000 $315,000 Common stock Retained eamings $360,000 750,000 depreciation 600) 255,000 Total stockholders equity 1.100,000 210000 Total liabilities and Total assets A) $525,000 B) $735,000 C) $585,000 D) $990,000 1 Information that is presented in a clear fashion, so that users of that information can interpret it is an example of B) relevance D) faithful representation 12. In order for accounting information to be relevant, it must A) not be reported to the public. B) be usod by a lot of different firms C) help peedict future events or confirm prior expectations. D) have very litle cos