Archer Corp has the following account balances listed in alphabetical order: Accumulated Depreciation, $18,000; Accounts Payable, $7,500, Accounts Receivable, $13,000; Cash, $2,000; Equipment, $46,000, Land, $21,000, Mortgage Payable, $42,000; Prepaid Insurance, $5,500; Supplies, $1,000; Unearned Revenue, $4,000; Wages payable, $6,000. Archer's longminusterm assets are .

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

b is the correct answer