Sonar Company prepared a draft of its 2014 balance sheet.The draft statement reported total assets of $437,500.Included in this total assets figure were the following items:

At which amount should Sonar' total assets be correctly reported in the December 31,2014,balance sheet?
A)$420,850
B)$421,300
C)$425,050
D)$425,500

Question

Sonar Company prepared a draft of its 2014 balance sheet.The draft statement reported total assets of $437,500.Included in this total assets figure were the following items:

At which amount should Sonar' total assets be correctly reported in the December 31,2014,balance sheet?
A)$420,850 
B)$421,300 
C)$425,050 
D)$425,500

Quizplus · Accepted Answer

The Answer of Sonar Company prepared a draft of its 2014 balance sheet.The draft statement reported total assets of $437,500.Included in this total assets figure were the following items:

At which amount should Sonar' total assets be correctly reported in the December 31,2014,balance sheet?
A)$420,850 
B)$421,300 
C)$425,050 
D)$425,500

Sonar Company Prepared a Draft of Its 2014 Balance Sheet