Question
Sunday Company reports the following information on December31, 2014: Cash $20,000 Accounts receivable 112,000 Accounts payable 91,000 Accrued wages payable 6,000 Unearned revenue 2,000 Paidminus
Sunday Company reports the following information on December31, 2014:
Cash $20,000
Accounts receivable 112,000
Accounts payable 91,000
Accrued wages payable 6,000
Unearned revenue 2,000
Paidminus
in capital 59,000
Retained earnings 80,000
Inventory 30,000
Prepaid rent 4,000
Equipment(net) 12,000
What are total assets at December31, 2014?
A.
$178,000
B.
$162,000
C.
$180,000
D.
$166,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
