Question

For Problem #8, please use the table provided Warren Clinic as of December 31, 2015 Accounts...

For Problem #8, please use the table provided

Warren Clinic as of December 31, 2015

Accounts Payable

$20,000

Accounts Receivable, net

$60,000

Cash

$30,000

Equity

$ 230,000

Long-term Debt

$ 120,000

Long-Term Investments

$ 100,000

Net Property and Equipment

$ 150,000

Other Assets

$40,000

Long-TermLiabilities

$10,000

8.What are the total assets of this company?

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Answer #1

Total assets=Accounts Receivable+Cash+Long term investments+Net property and equipment+Other assets

=(60,000+30,000+100,000+150,000+40,000)

which is equal to

=$380,000.

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