Answer:
The aggregate assets for the corporation amounts to $245,000
Explanation:
The aggregate assets for the corporation is computed as:
Total assets = Current assets + Long term assets
where
Current assets involve:
Current assets (CA) = Cash + Notes Payable + Accounts Receivable + Inventory
= $5,000 + $10,000 + $30,000 + $10,000
CA = $55,000
Long term assets involve:
Long term assets = (Machinery - Depreciation) + (Building - Depreciation) + Land
= ($50,000 - $25,000) + ($150,000 - $35,000) + $50,000
= $25,000 + $115,000 + $50,000
Long term assets = $190,000
Putting the values above:
Total assets = $55,000 + $190,000
Total assets = $245,000
