Answer:
Total assets = $8167
so correct option is c. $8,167
Explanation:
given data
Accounts Payable = $409
Fees Earned = $1,915
Accounts Receivable = 959
Insurance Expense = 436
Prepaid Insurance = 4,108
Land = 1,791
Cash = 1,309
Wages Expense = 731
Drawing = 321
Capital = 7,331
to find out
Total assets
solution
we get here Total assets that is express as
Total assets = Accounts receivable + Prepaid insurance + Cash + Land ...................1
put here value and we get
Total assets = 959 + 4108 + 1309 + 1791
Total assets = $8167
so correct option is c. $8,167
Total assets are $8,167
Assets are items that a company owns and such items provide future economic benefit. Examples are Land, Cash etc
Liabilities refers to what a company owes other party. Examples are Wages expenses, Account payable etc
We are required to calculate total assets
Items that are assets here are
- Accounts Receivable $959
- Prepaid Insurance $4,108
- Land $1,791
- Cash $1,309
Therefore, the total assets is computed as follows
Total assets = $959 + $4108 + $1309 + $1791
Total assets = $8,167
See similar question here
brainly.com/question/14564484
