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Cloud Solutions had the following accounts and balances as of December 31: AccountDebit Credit Cash$20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $4,000 Lodging
Cloud Solutions had the following accounts and balances as of December 31:
AccountDebit Credit
Cash$20,000
Accounts Receivable 2,000
Salaries Expense 500
Accounts Payable $4,000
Lodging Revenue 7,000
Utilities Expense 500
Prepaid Insurance 1,400
Supplies 1,500
Common Stock 14,900
Totals$25,900 $25,900
Using the information in the table, calculate the total assets reported on the balance sheet for the period.
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