The following accounts and balances were drawn from the records of Hoover Company on December 31,...
The following accounts and balances were drawn from the records
of Hoover Company on December 31, 2019.
Cash $ 500
Accounts Receivable $ 900 Dividends $ 300
Common Stock $1,950
Land $1,000
Revenue $ 800
Accounts Payable $ 450 Expense $ 250
Total assets on the December 31, 2019 Balance sheet would be:
a. $2,300
b. $2,400
c. $1,950
d. $1,500
Homework Answers
Total assets on the December 31, 2019 Balance sheet
Total assets on the December 31, 2019 = Cash + Accounts receivables + Land
= $500 + $900 + $1,000
= $2,400
Total assets on the December 31, 2019 Balance sheet will be $2,400
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