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A company's financial records at the end of the year were as follows: Cash $70,000 Accounts receivable 28,000 Supplies 4,000 Accounts payable 10,000 Notes payable
A company's financial records at the end of the year were as follows:
| Cash | $70,000 |
| Accounts receivable | 28,000 |
| Supplies | 4,000 |
| Accounts payable | 10,000 |
| Notes payable | 5,000 |
| Retained earnings, beginning of period | 17,000 |
| Contributed capital | 40,000 |
| Service Revenue | 53,000 |
| Wages expense | 8,000 |
| Advertising expense | 5,000 |
| Rent expense | 10,000 |
What is the amount of total assets to be reported on the balance sheet at the end of the year?
| a. | $112,000 | |
| b. | $102,000 | |
| c. | $119,000 | |
| d. | $155,000 |
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Principles Of Financial Auditing
Authors: Athmane Mokhbi
1st Edition
B09LGTJJFG, 979-8763532265
