The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31,Year 1:

-What is the amount of total assets that will be reported on the balance sheet as of December 31,Year 1?
A)$12,600
B)$13,800
C)$7,200
D)$10,600

Question

The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31,Year 1:
 
-What is the amount of total assets that will be reported on the balance sheet as of December 31,Year 1?
A)$12,600 
B)$13,800 
C)$7,200 
D)$10,600

Quizplus · Accepted Answer

Total assets = Cash of $4,000 + Land of $3,200 + Accounts Receivable of $3,400 = $10,600

The Following Pre-Closing Accounts and Balances Were Drawn from the Records