Cloud Solutions had the following accounts and balances as of December 31:AccountDebit CreditCash$20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $4,000 Lodging Revenue 7,000 Utilities Expense 500 Prepaid Insurance 1,400 Supplies 1,500 Common Stock 14,900 Totals$25,900 $25,900 Using the information in the table, calculate the total assets reported on the balance sheet for the period.
A. $25,900.
B. $23,400.
C. $22,500.
D. $25,400.
E. $24,900.
Answer: E
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Culinary Enterprises manufactures cookware sets and sells the sets to department stores. Culinary expects to sell 2800 cookware sets for $280 each in April and 4000 cookware sets for $295 each in May. Sales are 30% cash and 70% on account. Compute the total budgeted sales for May.
A) $1,180,000 B) $784,000 C) $354,000 D) $826,000
A product consists of four parts. The reliability of these parts are 0.96, 0.86, 0.74, and 0.44. Calculate and indicate product reliability.
a. 26.9% b. 34.3% c. 23.2% d. 63.0%
Indicate whether each of the following statements is true or false. (Assume a perpetual inventory system.)________ a) Transportation-out cost is a part of selling and administrative costs.________ b) When transportation-out cost is incurred, the balance in the inventory account increases.________ c) When transportation-in cost is incurred, the balance in the inventory account increases.________ d) When the transportation-out cost is incurred, the balance in the cost of goods sold account increases.________ e. Transportation-in cost is a part of selling and administrative costs.
What will be an ideal response?
Inputs to a production system that are held in the common do not have market ________
Fill in the blanks with correct word