The following information is for Swifty Real Estate: SwiftyReal Estate Balance Sheet December 31, 2020 Cash   $  25500   Accounts Payable     $  60500 Prepaid Insurance   29700   Salaries and Wages Payable     15100 Accounts Receivable   50600   Mortgage Payable     84500 Inventory   68600         Total Liabilities     160100 Land Held for Investment   83500           Land   120600           Buildings $98100                   Less Accumulated             Depreciation       Owner's Capital     366400 (19600) 78500           Trademark   69500         Total Liabilities and          Owner’s Equity       Total Assets   $526500       $526500 The total dollar amount of liabilities to be classified as current liabilities is $160100. $15100. $60500. $75600.

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 30CE
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The following information is for Swifty Real Estate:

SwiftyReal Estate
Balance Sheet
December 31, 2020
Cash
 
$  25500
 
Accounts Payable
   
$  60500
Prepaid Insurance
 
29700
 
Salaries and Wages Payable
   
15100
Accounts Receivable
 
50600
 
Mortgage Payable
   
84500
Inventory
 
68600
 
      Total Liabilities
   
160100
Land Held for Investment
 
83500
         
Land
 
120600
         
Buildings
$98100
           
      Less Accumulated
            Depreciation
     
Owner's Capital
   
366400
(19600)
78500
         
Trademark
 
69500
 
      Total Liabilities and
         Owner’s Equity
     
Total Assets
 
$526500
     
$526500


The total dollar amount of liabilities to be classified as current liabilities is

$160100.
$15100.
$60500.
$75600.
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