Answer:
Cash 4,800
Accounts Receivable 8,800
Supplies 18,800
Total Current 32,200
Equipment 118,000
Acc Depreciation (44,000)
Total non-current 74,000
Total assets 106,200
Accounts Payable 25,800
Salaries Payable 15,800
Total Liabilities 41,600
Common Stock 58,000
Retained Earnins 6,400
<em>Total Equity 64,600</em>
Total Assets + Liab 106,200
Explanation:
We solve this by appling the basic accounting equation:
Assets = Liabilties + Equity
First we solve for total assets.
Then we solve for the total amount of equity
and finally we clear for retained earnigns.
Cash 4,800
Accounts Receivable 8,800
Supplies 18,800
Total Current 32,200
Equipment 118,000
Acc Depreciation (44,000)
Total non-current 74,000
Total assets 106,200
Accounts Payable 25,800
Salaries Payable 15,800
Total Liabilities 41,600
Common Stock 58,000
Retained Earnins (64,600 - 58,000) = 6,400
<em>Total Equity (106,200 - 41,600) = 64,600</em>
Total Assets + Liab 106,200
