The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances.
Total assets are
A) $17,300
B) $13,500
C) $13,000
D) $9,800

Question

The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances.     
Total assets are
A) $17,300 
B) $13,500 
C) $13,000 
D) $9,800

Quizplus · Accepted Answer

Total assets = Accounts receivable + Supplies + Prepaid insurance + Cash + Office equipment + Land = $1,800 + $500 + $2,000 + $3,200 + $1,800 + $8,000 = $17,300

The Accounts in the Ledger of Monroe Entertainment Co