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Cash $100,000 Accounts receivable (net) 90,000 Inventories (at average cost) 70,

ID: 2377810 • Letter: C

Question

Cash

$100,000

Accounts receivable (net)

90,000

Inventories (at average   cost)

70,000

Available for sale   securities, at fair value (long term)

36,000

Equipment (net)

130,000

Land held for speculation

59,000

Cash surrender value of   life insurance

10,000

Patents

21,000

Notes and accounts payable

66,000

Long  term liabilities

160,000

Stockholders

  

Cash

     

$100,000

     

Accounts receivable (net)

     

90,000

     

Inventories (at average   cost)

     

70,000

     

Available for sale   securities, at fair value (long term)

     

36,000

     

Equipment (net)

     

130,000

     

Land held for speculation

     

59,000

     

Cash surrender value of   life insurance

     

10,000

     

Patents

     

21,000

     

Notes and accounts payable

     

66,000

     

Long  term liabilities

     

160,000

     

Stockholders

Explanation / Answer

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