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Sunday Company Reports the Following Information on December 31,2014 What Are Total Assets at December 31,2014?
A) $162,000
B)

Question 108

Multiple Choice

Sunday Company reports the following information on December 31,2014:
 Cash $20,000 Accounts receivable 112,000 Accounts payable 91,000 Accrued wages payable 6,000 Unearned revenue 2,000 Paid-in capital 59,000 Retained earnings 80,000 Inventory 30,000 Prepaid rent 4,000 Equipment (net)  12,000\begin{array} { l l } \text { Cash } & \$ 20,000 \\\text { Accounts receivable } & 112,000 \\\text { Accounts payable } & 91,000 \\\text { Accrued wages payable } & 6,000 \\\text { Unearned revenue } & 2,000 \\\text { Paid-in capital } & 59,000 \\\text { Retained earnings } & 80,000 \\\text { Inventory } & 30,000 \\\text { Prepaid rent } & 4,000 \\\text { Equipment (net) } & 12,000\end{array}
What are total assets at December 31,2014?


A) $162,000
B) $166,000
C) $178,000
D) $180,000

Correct Answer:

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