Question
At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $1,270; Prepaid Insurance, $570;
At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $1,270; Prepaid Insurance, $570; Equipment, $36,900 and Cash, $41,000. On the same date, SloMo owed the following creditors: Simpson Supply Company, $12,700; Allen Office Equipment, $9,850.
The total assets for the SloMo Delivery Service are:
Multiple Choice
(A) $79,740
(B) $42,840
(C) $77,900
(D) $42,270
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Financial Accounting An Introduction to Concepts, Methods and Uses
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
14th edition
978-1111823450, 1-133-36617-1 , 1111823456, 978-1-133-3661, 978-1133591023
