ABC Company's accounting records reported the following account balances as of December 31, 2026: Accounts payable Copyright Land.. Cost of goods sold Accumulated depreciation Notes payable ... Interest revenue Building Cash.. Dividends .. Income tax expense.. Accounts receivable Salaries expense. Supplies .. Rent expense Retained earnings Sales revenue Common stock ... Patent Salaries payable Inventory Utilities expense ? $44,000 $65,000 $49,000 $22,000 $88,000 $65,000 $82,000 $21,000 $14,000 $26,000 $29,000 $24,000 $11,000 $13,000 $69,000 (at Jan. 1, 2026) $94,000 $78,000 $19,000 $20,000 $37,000 $16,000 Calculate the amount of total assets reported in ABC Company's December 31, 2026 balance sheet.

ABC Company's accounting records reported the following account balances as of December 31, 2026: Accounts payable Copyright Land.. Cost of goods sold Accumulated depreciation Notes payable ... Interest revenue Building Cash.. Dividends .. Income tax expense.. Accounts receivable Salaries expense. Supplies .. Rent expense Retained earnings Sales revenue Common stock ... Patent Salaries payable Inventory Utilities expense ? $44,000 $65,000 $49,000 $22,000 $88,000 $65,000 $82,000 $21,000 $14,000 $26,000 $29,000 $24,000 $11,000 $13,000 $69,000 (at Jan. 1, 2026) $94,000 $78,000 $19,000 $20,000 $37,000 $16,000 Calculate the amount of total assets reported in ABC Company's December 31, 2026 balance sheet.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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