Solved

Following Is an Extract of Account Balances of Aztec Moving

Question 219

Multiple Choice

Following is an extract of account balances of Aztec Moving Services as of December 31,after the first year of operation.  Accounts Receivable $4,000 Accounts Payable 4,000 Salaries Expense 7,000 Repairs Expense 700 Truck 10,000 Equipment 9,000 Notes Payable 8,200 Cash 7,100 Supplies Expense 1,200 Service Revenue 35,000 Gasoline Expense 3,600 Salaries Payable 300\begin{array} { | l | r | } \hline \text { Accounts Receivable } & \$ 4,000 \\\hline \text { Accounts Payable } & 4,000 \\\hline \text { Salaries Expense } & 7,000 \\\hline \text { Repairs Expense } & 700 \\\hline \text { Truck } & 10,000 \\\hline \text { Equipment } & 9,000 \\\hline \text { Notes Payable } & 8,200 \\\hline \text { Cash } & 7,100 \\\hline \text { Supplies Expense } & 1,200 \\\hline \text { Service Revenue } & 35,000 \\\hline \text { Gasoline Expense } & 3,600 \\\hline \text { Salaries Payable } & 300 \\\hline\end{array} What is the amount of total assets at the end of the year?


A) $14,000
B) $30,100
C) $19,000
D) $26,100

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents