Homework Answers
Cash = $15,0000
Food inventory = $4,000
Account receivable = $5,000
Land = $30,000
Building = $80,000
Furniture and equipment = $22,000
Total assets = Cash + Food inventory + Account receivable + land + Building + Furniture and equipment
= 15,000 + 4,000 + 5,000 + 30,000 + 80,000 + 22,000
= $156,000
All other items given in the question have been ignored since these are not assets.
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