[Lady In Luck]

So, I have two different answers to this question:
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First possible answer:
a. Current assets
Accounts receivable 11300
Prepaid insurance 4000
Supplies on hand 3900
Total 19200

b. Current liabilities
A/P 29000
Interest payable 12000
Notes payable 13500
Wages payable 10000
Total 64,500

c. Property, plant and equipment
Buildings 35000
Equipment 45000
Land 40000
Total 120,000

d. Total assets
A/R 11300
d. Accum Deprec 19500
e. Building 35000
f. Cash 31000
g. Equipment 45000
h. Land 40000
I. Inventory 52400
j. Prepaid insurance 4000
k. Supplies on hand 3900
l. Trademarks 6000
m. Total assets 248100

n. Long term liabilities
Notes payable, long term 33,500
Total: 33,500

o. Total liabilities:
p. A/P 29000
q. Interest payable 12000
r. Notes payable 13500
s. Wages payable 10000
Long term notes 33,500
Total: 98,000
Total stockholder’s equity
Total assets: 248100
Total liabilities: (98,000)
Total stockholder equity: 150,100

Total liabilities and stockholder’s equity
Total liabilities 98000
Total SH equity 150,100
Total: 248,100 (which we know is correct, because total assets MUST equal total liabilities + stockholder equity).

Second possible answer:
Answer Formula
a.       Current assets 102,600 = B3+B6+B12+B15+B17
b.      Current liabilities 64,500 = B2+B10+B13+B20
c.       Property, plant, and equipment 106,500 = B5-B4+B9+B11+B18
d.      Total assets 209,100 = E2+E4
e.      Long-term liabilities 33,500 = B14
f.        Total liabilities 98,000 = E6+E3
g.       Total stockholder’s equity 111,100 = B16+B7
h.      Total liabilities and stockholders’ equity 209,100 = E8+E7

Which one looks correct to you?

[pready]

Cash is a current asset

Trademark is an intangible asset

Accumulated Depreciation is a contra asset, which means it offsets an asset. This means that you will list the asset and list the accumulated depreciation and subtract the accumulated depreciation from the asset to get the net value of the asset. The asset will be Equipment.

Inventory is a current asset.

The rest of your accounts are classified correctly.