Question
Prepare a december 31, xx balance sheet for Zach's Brokerage firm from the following items (you do not need to use all of the items;again,
Prepare a december 31, xx balance sheet for Zach's Brokerage firm from the following items (you do not need to use all of the items;again, you do not need to use all of the items) and amounts listed below (no need to over think this one); what are the total assets of Zach's brokerage firm? Comissions income $50,00. Accounts payable $3,500. Mortgage notes payable $100,000. Accounts receiveable, net $5,000. Zach's capital at 12/31/xx $103,5000. Office Equipment, net $10,000. Advertising expense $3,200. Professional legal fees expensed $54,000. Cash and cash equivalents $8,000. Land $35,000. Notes payable $50,000. Insurance expense $1,500. Real estate taxes $49,000. Salaries expense $18,000. Salaries payable $1,000. Building, net $100,000. What are Zach's brokerage firm's Total Assets at the end of the year?
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