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A company's trial balance included the following account balances: Accounts Payable $ 19,347 Accounts Receivable 81,476 Cash 73,464 Income Tax Payable 3,652 Inventory 25,956 Notes Payable, due in two years 1,849 Equipment 55,528 Stockholders’ Equity 204,208 Supplies 5,652 Wages Payable 13,020 What is the amount of Total Assets on the Balance Sheet?

Respuesta :

ayokenny2001

The amount of Total Assets on the Balance Sheet is $242,076

What is an asset?

An asset is something that provides a current, future, or potential economic benefit for an individual or other entity.

Total Assets on the Balance Sheet

Fixed Asset:

Equipment 55,528                  55,528

Current Asset:

Accounts Receivable 81,476

Cash 73,464

Inventory 25,956

Supplies 5,652                        186,548

Total assets                            242,076

Hence, the amount of Total Assets on the Balance Sheet is $242,076

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