Question
The account balances for a company are listed below.All balances are as of Dec. 31, 2015 , except where noted otherwise Prepaid Insurance$500 Equipment75,000 Cash16,600
The account balances for a company are listed below.All balances are as of Dec. 31, 2015, except
where noted otherwise
Prepaid Insurance$500 Equipment75,000
Cash16,600 Loss from Sale of Equipment 1,700
Accumulated Depreciation 7,000 Furniture14,000
Unearned Revenue 4,500Notes Payable (due 12/31/17)40,900
Dividends2,000 Sales Revenue98,900
Accounts Receivable8,400Retained Earnings (1/1/15)10,650
Supplies300 Salary Expense22,000
Cost of Goods Sold44,600 Salaries Payable1,600
Depreciation Expense1,350 Common Stock40,000
Goodwill10,000 Utility Expense5,400
Supplies Expense400Marketable Securities 9,500
Notes Payable (due 2/28/16)1,000
Accounts Payable7,200
1.Determine total assets as of Dec. 31, 2015:
A.$127,300
B.$141,300
C.$117,300
D.$125,950
E. None of the above
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