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Shon Company has compiled the following list of account balances of various assets, liabilities, revenues and expenses on December 31, the end of its first
Shon Company has compiled the following list of account balances of various assets, liabilities, revenues and expenses on December 31, the end of its first year of operations.
Common stock$75,600Accounts payable15,000Salary expense27,000Repairs expense4,800Dividends30,000Truck51,000Equipment37,800Notes payable49,200Cash105,600Supplies expense9,600Service revenue130,800Gasoline expense4,800The total assets for Shon Company on December 31 are:
Select one:
A. $129,600
B. $168,600
C. $189,600
D. $194,400
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