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In-s [12.5K]
3 years ago
13

The following items are components of a traditional Balance Sheet. How much are the total assets of the firm?

Business
1 answer:
Anestetic [448]3 years ago
6 0

Answer:

$ 59,000

Explanation:

The total Asset is compounded of:

Plant and Equipment $42,000

Cash $ 8,000

Inventory $21,000

Allowance for Uncollectable Accounts   $ 6,000 ( <u>negative</u>, netting Accounts Receivables )

Accumulated Depreciation $28,000 ( <u>negative</u>, netting Plant and Equipment )

Accounts Receivable $22,000

<u>Assets ( Net ) </u>: $ 59,000

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