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<p><em><strong>Available-for-sale securities $200,000 </strong></em></p> <p><em><strong>Prepaid expenses400,000 </strong></em></p> <p><em><strong>Treasury stock100,000 </strong></em></p> <p><em><strong>The total amount of the above items to be shown as assets on it ’s statement of financial position is </strong></em></p> <p><em><strong>A. $400,000 </strong></em></p> <p><em><strong>B. $500,000 </strong></em></p> <p><em><strong>C. $600,000</strong></em></p> <p><em><strong>D. $700,000</strong></em></p>
Total assets are $600,000.00 and The treasury stock should be in equity section.
AT first thank you for this question, Prepaid expenses in assets and available-for-sale securities also in assets =600,000 But Treasury stock shown as EQUITY
$700,000 should be shown as assets
total asset must be shown in statement of financial position is $600000
the company must report a total asset in it ’s statement of financial position of USD$600,000.
