Question
Bargain Soft Fabic's end-of-year trial balance consisted of the following amounts (all accounts have normal balances): Cash $ 75,000 Accounts Receivable $250,000 Sales Revenue
Bargain Soft Fabic's end-of-year trial balance consisted of the following amounts (all accounts have normal balances): Cash $ 75,000 Accounts Receivable $250,000 Sales Revenue 150,000 Long-term debt 200,000 Property, plant & equipment 350,000 Cost of Goods Sold 90,000 Capital stock 500,000 Accounts payable 100,000 Operating Expense 25,000 Inventory 175,000 ? Gain on Sale of Equipment 5,000 Retained earnings What amount should the company report on its Balance Sheet for Total Assets? O $850,000 O $550,000 O $775,000 O $950,000
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