The balances of select accounts of Donovan Inc as of Decembe

The balances of select accounts of? Donovan, Inc. as of December? 31, 2018 are given below. Debit Credit Building $ 100 comma 000 $100,000 Cash 7 comma 000 7,000 Office Supplies 1 comma 200 1,200 Furniture 4 comma 000 4,000 Prepaid Insurance 550 550 Accumulated Depreciation long dash —Furniture $ 2 comma 000 $2,000 Land 34 comma 000 34,000 Accumulated Depreciation long dash —Building 4 comma 300 4,300 Accounts Receivable 2 comma 000 2,000 What amount of total long minus ?term assets would be shown on the balance sheet at December? 31, 2018? A. $ 100 comma 000 $100,000 B. $ 134 comma 000 $134,000 C. $ 138 comma 000 $138,000 D. $ 131 comma 700 $131,700

Solution

Answer:D. $131700

Long Term Assets:

Land + Building - Accumulated Depreciation - Building + Furniture - Accumulated Depreciation - Furniture

34000 + 100000 - 4300 + 4000 - 2000 = 131700