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The Following Information Is for Qwik Auto Supplies The Total Dollar Amount of Assets to Be Classified as

Question 158

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The following information is for Qwik Auto Supplies:  Qwik Auto Supplies  Balance Sheet  December 31, 2016 Cash$45,000 Prepaid Insurance 80,000 Accounts Receivable 110,000Inventory140,000Land Held for Investme 185,000Land 250,000 Building $200,000 Less Accumulated  Depreciation (50,000) 150,000 Trademark 140,000Total Assets$1,100,000 Accounts Payable $140,000 Salaries and Wages Payable 60,000 Mortgage Payable 150,000 Total Liabilities 350,000 Owner’s Capital 750,000 Total Liabilities and  Owner’s Equity $1,100,000\begin{array}{c} \text { Qwik Auto Supplies }\\ \text { Balance Sheet }\\ \text { December 31, 2016}\\\\\begin{array}{lll} \text { Cash}& & \$ 45,000 \\ \text { Prepaid Insurance } & & 80,000 \\ \text { Accounts Receivable } & & 110,000 \\ \text {Inventory} & & 140,000 \\\text {Land Held for Investme } & & 185,000 \\\text {Land }& & 250,000 \\ \text { Building } & \$ 200,000 & \\\text { Less Accumulated } \\\text { Depreciation } & (50,000) &150,000 \\ \text { Trademark } & &140,000 \\ \text {Total Assets}&&\$1,100,000\\\end{array}\begin{array}{lr}\text { Accounts Payable } & \$ 140,000 \\\text { Salaries and Wages Payable } & 60,000 \\\text { Mortgage Payable } & 150,000\\\quad \text { Total Liabilities } & 350,000\\\\\\\\\text { Owner's Capital } &750,000 \\\\\text { Total Liabilities and } & \\\text { Owner's Equity } & \$1,100,000\end{array}\end{array}

The total dollar amount of assets to be classified as property plant and equipment is


A) $400000.
B) $450000.
C) $585000.
D) $635000.

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