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Operations Management
A company had the following accounts and balances as of December 31:  Account Debit Credit Cash $ 20,000  Accounts Receivable 2,000  Supplies 1,500  Prepaid Insurance 1,400  Accounts Payable $ 4,000 Total equity 14,900 Lodging Revenue 7,000 Salaries Expense 500  Utilities Expense 500  Totals $ 25,900 $ 25,900 Using the information in the table, calculate the total assets reported on the balance sheet for the period. Multiple Choice $23,400. $25,400. $25,900. $22,500. $24,900.

A company had the following accounts and balances as of December 31:  Account Debit Credit Cash $ 20,000  Accounts Receivable 2,000  Supplies 1,500  Prepaid Insurance 1,400  Accounts Payable $ 4,000 Total equity 14,900 Lodging Revenue 7,000 Salaries Expense 500  Utilities Expense 500  Totals $ 25,900 $ 25,900 Using the information in the table, calculate the total assets reported on the balance sheet for the period. Multiple Choice $23,400. $25,400. $25,900. $22,500. $24,900.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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A company had the following accounts and balances as of December 31:  Account Debit Credit Cash $ 20,000  Accounts Receivable 2,000  Supplies 1,500  Prepaid Insurance 1,400  Accounts Payable $ 4,000 Total equity 14,900 Lodging Revenue 7,000 Salaries Expense 500  Utilities Expense 500  Totals $ 25,900 $ 25,900 Using the information in the table, calculate the total assets reported on the balance sheet for the period. Multiple Choice $23,400. $25,400. $25,900. $22,500. $24,900.
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