Question

Below is a list of various balance sheet accounts and their balances.


Debit Credit
Building $100,000
Cash 2,000
Supplies 800
Furniture 2,600
Prepaid insurance 150
Accumulated depreciation-furniture $900
Inventory
Land 25,000
Accumulated depreciation-building 4,800
Accounts receivable 1,500

What are the total long-term assets that would be shown on the balance sheet?

A) $127,600

B) $121,900

C) $128,400

D) $96,900

Answer

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