26. The adjusted trial balance on December 31 of the Zebra Company contained the following accounts...
26.
The adjusted trial balance on December 31 of the Zebra Company contained the following
accounts and balances:
Cash
$ 500
Equipment
$ 600
Patient Service Revenue
4,500
Accounts Receivable
560
Prepaid Rent
700
Notes Payable
1,000
Supplies
250
Operating Expense
2,000
Accounts Payable
250
Unearned Revenue
500
Common Stock
500 Retained Earnings
?
Based on the above information only, what amount would be reported on the balance
sheet for Total Assets?
A) $6,700
B) $3,110
C) $2,610
D) $2,060
Explain the process please, i already know the answer.
Homework Answers
Correct answer----------(C) $2,610
Working
| Cash | $ 500.00 |
| Equipment | $ 600.00 |
| Accounts receivable | $ 560.00 |
| Prepaid rent | $ 700.00 |
| Supplies | $ 250.00 |
| Total Assets (500+600+560+700+250) | $ 2,610.00 |
All of the above accounts are asset accounts.
Other accounts in above list are liability, revenue, expense and equity accounts.
Add Answer to:
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