Question

Question 6 4 pts At December 31, 202e, ZZ, Inc. 's unadjusted trial balance reported the following accounts: Accumulated Depreciation $57,800 Cash $23,eee Common Stock $90,eee Cost of Goods Sold . .. $54,e0e Dividends . .. $10,e0e Equipment . $76,e0e Income Tax Expense $14,ee0 Inventory $31,ee0 Prepaid Insurance $36,e0e Retained Earnings sales Revenue . .. $8e,eee (at January 1, 2020) $95,e0e ZZ, Inc. has not yet recorded adjusting entries related to the following four items: 1) The prepaid insurance in the unadjusted trial balance relates to a 2-year insurance policy purchased on March 31, 2820 2) Depreciation expense of $9,000 has not yet been recorded 3) The note receivable was a loan given to a customer on June 1, 2020 It is a 18-month, 15% loan. 4) A physical count revealed that supplies costing $8,0e0 were still on hand as of December 31, 2020. Calculate Zz, Inc. 's total assets at December 31, 2020 after the appropriate adjusting entries have been recorded and posted

Answer 1

Cash	23000
Inventory	31000
Supplies	8000	(19000-11000)
Prepaid insurance	22500	(36000-13500)
Notes receivable	50000
Interest receivable	4375	(50000*15%*7/12)
Accounts receivable	45000
Building	61000
Equipment	76000
Accumulated depreciation	-66000	(57000+9000)
Patent	17000
Total assets	271875