At December 31, 2026, N37r-Zo Company's unadjusted trial balance reported the following accounts: Accounts Payable ............ $36,000
Question:
At December 31, 2026, N37r-Zo Company's unadjusted trial balance reported the following accounts:
Accounts Payable ............ $36,000
Accounts Receivable ......... $65,000
Accumulated Depreciation .... $42,000
Building .................... $61,000
Cash ........................ $33,000
Common Stock ................ $72,000
Cost of Goods Sold .......... $54,000
Dividends ................... $10,000
Equipment ................... $76,000
Income Tax Expense .......... $15,000
Inventory ................... $38,000
Prepaid Insurance ........... $42,000
Rental Revenue .............. $47,000
Retained Earnings ........... $80,000 (at January 1, 2026)
Sales Revenue ............... $95,000
Trademark ................... $17,000
Unearned Revenue ............ $55,000
Wage Expense ................ $16,000
N37r-Zo Company has not yet recorded adjusting entries related to the following four items:
1) The prepaid insurance in the unadjusted trial balance relates to a 2-year insurance policy purchased on October 1, 2026.
2) Depreciation expense of $8,000 has not yet been recorded.
3) The unearned revenue in the unadjusted trial balance relates to a $55,000 payment from a customer received on May 1, 2026 for work to be performed each month for the next 20 months.
4) On December 28, 2026, N37r-Zo Company received a utility bill for December totaling $11,000. The bill will be paid on its due date of January 9, 2027.
Calculate N37r-Zo Company's total assets at December 31, 2026 after all necessary adjusting entries have been recorded and posted.