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Salsk061
2 months ago
9

Archer Corp has the following account balances listed in alphabetical​ order: Accumulated​ Depreciation, $18,000; Accounts​ Paya

ble, $7,500, Accounts​ Receivable, $13,000;​ Cash, $2,000;​ Equipment, $46,000,​ Land, $21,000, Mortgage​ Payable, $42,000; Prepaid​ Insurance, $5,500;​ Supplies, $1,000; Unearned​ Revenue, $4,000; Wages​ payable, $6,000.​ Archer's longminusterm assets​ are __________.
Business
1 answer:
soldi70 [3.6K]2 months ago
6 0

Answer:

Assets include Equipment worth $46,000 and Land valued at $21,000, incorporating Accumulated​ Depreciation of $18,000.

This totals to $49,000.

Explanation:

Long-term assets, also referred to as non-current assets, are resources that are not utilized within a year. It indicates that the benefits derived from owning and controlling these assets will extend beyond one year. Examples consist of fixed assets and intangible properties.

Archer's long-term assets​ include Equipment worth $46,000 and Land amounting to $21,000, accounting for Accumulated​ Depreciation of $18,000.

Thus, it equates to

= $46,000 + $21,000 - $18,000

= $49,000

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