Question
As of December 31, 2018, Blossom Company has assets of $43000 and stockholders' equity of $21200. What are the liabilities for Blossom Company as of
As of December 31, 2018, Blossom Company has assets of $43000 and stockholders' equity of $21200. What are the liabilities for Blossom Company as of December 31, 2018?
$21800.
$21200.
$43000.
$64200.
The following items are taken from the financial statements of theIvanhoeService for the year ending December 31, 2018:
Accounts payable$18000Accounts receivable11000Accumulated depreciation - equipment28600Advertising expense20900Cash14800Common stock41100Dividends13800Depreciation expense12000Equipment214500Insurance expense2900Note payable, due 6/30/1968900Prepaid insurance (12-month policy)5800Rent expense17100Retained earnings (1/1/18)62900Salaries and wages expense31800Service revenue135100Supplies4000Supplies expense6000
What is total liabilities and stockholders' equity at December 31, 2018?
$180400
$221500
$192900
$235300
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started