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The following information was reported in the December 31, 2018, financial statements of Ava, Inc. (listed...

The following information was reported in the December 31, 2018, financial statements of Ava, Inc. (listed alphabetically).

Accounts Payable

$1,166

Cash

4,313

Dividends

470

Fuel Expense

777

Interest Expense

215

Notes Payable

2,322

Retained Earnings (as of January 1, 2018

377

Service revenue

6,422

Supplies

399

Based on this list of accounts, what are the total assets?

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Answer #1

Solution:

Statement for calculating total assets

Details Amount($)
Cash $4,313
Supplies $399
Total assets $4,712
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