Peets N. Assets has taken inventory and has collected the following information on the value of ever

Peets N. Assets has taken inventory and has collected the following information on the value of ever

Peets N. Assets has taken inventory and has collected the following information on the value of everything he owns and owes as of December 31, 2016: Land and buildings Crops in storage Mortgage Machinery owned Loans owed on machinery $12,000 Taxes owed Cash on hand Breeding livestock owned Feeder livestock owned $400,000 $30,000 $35,000 $14,000 Cash rent owed to his landlord $ 6,000 $ 2,000 Production loan outstanding $ 9,000* $7,000 $225,000 $ 65,000 on land Feed in storage $1,000 $3,000 Supplies in storage Fuel in storage $500 *must be paid this year 4. The total value of Deets' assets is: $554,500 b. $556,500 c. $565,500 d. $577,500 $255,000 I e. 5. The total value of Deets' liabilities is: a. $58,000 b. $249,000 $255,000 d. $253,000 e. $554,500 C. 6. Dects has a net worth of a. $58,000 b. $249,000 c. $255,000 d. $303,500 e. $554,500 879 words

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