Question

Prepaid insurance $ 2,300; Inventory $ 1,800; Cash $ 2,500; Equipment $ 6,700; Accounts receivable $ 1,500; Trademarks $ 5,600; Debt investments (long-term) $ 3,300; Accumulated depreciation—Equipment $1,600

Answer 1

Answer:

The correct answer to the following question will be "$22100".

Explanation:

The given values are:

Prepaid insurance

= $2,300

Inventory

= $1,800

Cash

= $2,500

Equipment

= $6,700

Accounts receivable

= $1,500

Trademarks

= $5,600

Debt investments

= $3,300

Accumulated Depreciation

= $1,600

Now,

⇒ Total assets = Prepaid Insurance + Inventory + Cash + Equipment + Accounts receivable + Trademarks + Debt investments - Accumulated Depreciation

On putting the estimated values, we get

⇒                       = $2300 + 1800 + 2500 + 6700 + 1500 + 5600 + 3300 - 1600$

⇒                       = $23700 - 1600$

⇒                       = $22100$