Answer:
Equipment, $46,000, and Land, $21,000 including Accumulated Depreciation, $18,000.
This amounts to $49,000.
Explanation:
The long term asset are also known as the non current assets.
These are assets that will not be used up in a year. It means that the benefits that will accrue to the entity as a result of ownership and control of these assets will be for more than a year. Examples are fixed asset, intangible assets etc
Archer's long term assets are Equipment, $46,000, and Land, $21,000 including Accumulated Depreciation, $18,000.
This amounts to
= $46,000 + $21,000 - $18,000
= $49,000
