A company's trial balance included the following account balances: Accounts Payable$19,207 Accounts Receivable 81,336 Cash 73,324 Income Tax Payable 3,512 Inventory 25,816 Note Payable, due in two years 1,709 Equipment 54,128 Stockholders' Equity 202,808 Supplies 5,512 Wages Payable 12,880 What is the amount of Total Assets on the Balance Sheet?
A. $214,300
B. $240,116
C. $442,924
D. $480,232
Answer: B
You might also like to view...
Which of the following statements is false?
a. Cash equivalents are included in cash on the balance sheet and on the statement of cash flows. b. Investments in cash equivalents and investments in stock have the same economic effect--assets increase and decrease by the same amount. c. An investment is a cash equivalent if it is convertible into a known amount of cash and has an original maturity of 3 months or less when purchased. d. Investments in stock are reported as a financing activity on the statement of cash flows.
The term cost flow refers to the association of costs with their assumed flow in the operation of a business
Indicate whether the statement is true or false
Termination by fulfillment means the project is completed fully
Indicate whether the statement is true or false
Which of the following is true of a partnership balance sheet?
A. It excludes any current liabilities. B. It reports a separate capital account for each partner. C. Unlike a corporation's balance sheet, it includes all income statement account information. D. It details the interest expenses of the business.