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ne following is a December 31, 2019, post-closing trial balance for Desert Company: Credits Debits $ 83,000 $280,000 $ 32,000
1. The cash account includes $15,000 set aside in a legally restricted fund to pay bonds payable that mature in 2027 and a $1
3. The land account includes land which cost $75,000 that the company purchased for speculative purposes and is currently hel
what is total PPE, other assests, and currwnt liabilities
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Answer #1

A. PPE

Land (175000-75000) = 100000

Building    = 160000

Equipment                = 45000               TOTAL = 305000

B. Other Asset

Land                        = 75000

Equipment                = 100000

Cash(83000-15000-13000)=55000

Accounts Recieavable = 210000

Prepaid Exoense = 32000                           TOTAL = 472000

C. Current Liability

Account Payable =   73000

Unearned Revenue= 150000

Notes Payable = 100000                Total = 323000

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