Question
The adjusted trial balance of Panther Pathways is presented below. Using this information, what is the company's total assets? Trial Balance Debit Credit Cash 12,000
The adjusted trial balance of Panther Pathways is presented below. Using this information, what is the company's total assets?
Trial Balance
Debit Credit
Cash 12,000
Accounts Receivable 40,000
Note Receivable 7,000
Interest Receivable 420
Allowance for Doubtful Accounts 4,600
Merchandise Inventory 44,000
Prepaid Insurance 2,8000
Prepaid Rent 5,400
Furniture and Equipment 125,000
Accumulated Depreciation -- F. & E. 27,500
Accounts Payable 10,800
Salaries Payable 5,800
Common Stock 44,000
Retained Earnings 55,000
Sales 280,000
Interest Revenue 420
Cost of Goods Sold 111,000
Salaries Expense 55,800
Rent Expense 7,400
Insurance Expense 2,000
Bad Debt Expense 2,800
Depreciation Expense 12,500
428,120 428,120
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