Question
Following is an extract of account balances of Aztec Moving Services as of December 31, after the first year of operation. Accounts Receivable $7,000 Accounts
Following is an extract of account balances of Aztec Moving Services as of December 31, after the first year of operation.
| Accounts Receivable | $7,000 |
| Accounts Payable | 5,000 |
| Salaries Expense | 6,000 |
| Repairs Expense | 600 |
| Truck | 8,000 |
| Equipment | 9,000 |
| Notes Payable | 8,400 |
| Cash | 7,500 |
| Supplies Expense | 1,500 |
| Service Revenue | 32,000 |
| Gasoline Expense | 3,800 |
| Salaries Payable | 500 |
What is the amount of total assets at the end of the year?
A. $24,500
B. $15,000
C.$31,500
D. $17000
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Accounting Concepts And Applications
Authors: K. Fred Skousen, W. Steve Albrecht, James D. Stice, Earl K. Stice
7th Edition
0538876247, 978-0538876247
