Reference no: EM132651384
Question - A Corporation reported the following account balances at December 31, 2023:
Interest Revenue $48,000
Notes Payable $55,000
Depreciation Expense $10,000
Common Stock $82,000
Wage Expense $16,000
Equipment $27,000
Patent $51,000
Income Tax Expense $12,000
Accounts Receivable $58,000
Cost of Goods Sold $63,000
Loss on Sale of Land $18,000
Retained Earnings $75,000 (at January 1, 2023)
Trademark $31,000
Accumulated Depreciation $15,000
Cash $39,000
Accounts Payable $63,000
Inventory $69,000
Dividends $11,000
Sales Revenue $96,000
Supplies $29,000
Required - Calculate the total long term assets reported in Jay Corporation's December 31, 2023 balance sheet.
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