Presented below are selected data from the balance sheet:
$\begin{array}{ll}
\text { Current assets } & \$ 250,000 \
\text { Property, plant \& equipment } & 700,000 \
\text { Other assets } & ? ? ? \
\text { Current liabilities } & 200,000 \
\text { Total Longterm debt } & 500,000 \
\text { Total Stockholders equity } & 275,000
\end{array}$
A) Determine the amount of "Other assets."
(Hint: you must use the accounting equation concept to determine your answer.)

Question

Presented below are selected data from the balance sheet:
 $\begin{array}{ll}
\text { Current assets } & \$ 250,000 \
\text { Property, plant \& equipment } & 700,000 \
\text { Other assets } & ? ? ? \
\text { Current liabilities } & 200,000 \
\text { Total Longterm debt } & 500,000 \
\text { Total Stockholders equity } & 275,000
\end{array}$
 A) Determine the amount of "Other assets."
(Hint: you must use the accounting equation concept to determine your answer.)

Quizplus · Accepted Answer

The Answer of Presented below are selected data from the balance sheet:
 $\begin{array}{ll}
\text { Current assets } & \$ 250,000 \
\text { Property, plant \& equipment } & 700,000 \
\text { Other assets } & ? ? ? \
\text { Current liabilities } & 200,000 \
\text { Total Longterm debt } & 500,000 \
\text { Total Stockholders equity } & 275,000
\end{array}$
 A) Determine the amount of "Other assets."
(Hint: you must use the accounting equation concept to determine your answer.)

Presented Below Are Selected Data from the Balance Sheet A) Determine the Amount of "Other Assets