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What is the amount of total assets to be reported

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    Assignment ID: FG133141540

    Question – A company’s financial records at the end of the year included the following amounts:

    Cash $70,500

    Accounts Receivable 28,500

    Supplies 4,500

    Accounts Payable 10,500

    Notes Payable 5,250

    Retained Earnings, beginning of year 17,500

    Common Stock 45,000

    Service Revenue 49,750

    Wages Expense 8,500

    Advertising Expense 5,500

    Rent Expense 10,500

    Required – What is the amount of total assets to be reported on the Balance Sheet at the end of the year?

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