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The Company's Total Assets Are $36,000 Required:
Part A

Question 185

Essay

The company's total assets are $36,000.The following is a listing of the company's accounts and account balances as of December 31,Year 3.This company doesn't have any other accounts.
 Accounts Payable $7,000 Accounts Receivable 8,000 Supplies 1,000 Equipment 22,000 Common Stock 10,000 Cash  Unknown  Retained Earnings  Unknown \begin{array}{lr}\text { Accounts Payable } & \$ 7,000 \\\text { Accounts Receivable } & 8,000 \\\text { Supplies } & 1,000 \\\text { Equipment } & 22,000 \\\text { Common Stock } & 10,000 \\\text { Cash } & \text { Unknown } \\\text { Retained Earnings } & \text { Unknown }\end{array} Required:
Part a.Determine the balance of the Cash account.
Part b.Determine the balance of the Retained Earnings account.

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Part a.
Total Assets = Accounts Receivab...

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