Use the Trial Balance (Links to an external site.) for Hercules Inc. to answer the following:
What are Total Assets on Hercules' Balance Sheet?
Group of answer choices
a. 0
b. 2,259,000
c. 2,589,000
d. 1,929,000
Homework Answers
Answer
1,929,000
Explanation:
Assets are the resources of the company which give future benefit to the enterprise.
Assets = Cash + Accounts receivable + Inventory + Equipment - Acc dep
= $ 500,000 + $ 627,000 + $ 82,000 + $ 1,050,000 - $ 330,000
= $ 1,929,000
In case of any doubt or clarification, you're welcome to come back via comments.
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