Question

The following balances are included in the subsidiary records of Sinclair:

What is the total amount of general capital assets held by the town?

a. Land $2,000,000; Buildings $5,000,000; Machinery $1,000,000

b. Land $2,000,000; Buildings $3,000,000; Machinery $2,000,000

c. Land $1,000,000; Buildings $5,000,000; Machinery $2,000,000

d. Land $1,000,000; Buildings $3,000,000; Machinery $1,000,000

Answer 1

To calculate the total general capital assets held by the town of Sinclair, add the values of Land, Buildings, and Machinery for each option given. The total amounts for options (a), (b), (c), and (d) are $8,000,000, $7,000,000, $8,000,000, and $5,000,000, respectively.

Step-by-step explanation:

To find the total amount of general capital assets held by the town of Sinclair, we simply need to add up the balances of each category of assets that are identified. These categories are Land, Buildings, and Machinery. For each option provided:

• (a) Land $2,000,000; Buildings $5,000,000; Machinery $1,000,000
• (b) Land $2,000,000; Buildings $3,000,000; Machinery $2,000,000
• (c) Land $1,000,000; Buildings $5,000,000; Machinery $2,000,000
• (d) Land $1,000,000; Buildings $3,000,000; Machinery $1,000,000

Adding up the figures for each option gives us the following totals:

• (a) $8,000,000
• (b) $7,000,000
• (c) $8,000,000
• (d) $5,000,000

Therefore, we select the option with the correct totals that represent the general capital assets held by the town.