Given the Following List of Accounts, Calculate Total Assets A) $52,100
B) $55,300
C) $54,600
D) $40,050

question 19

Multiple Choice

Given the following list of accounts, calculate Total Assets: $$\begin{array} { l r } \text { Accounts Receivable } & \$ 10,000 \\\text { Capital Stock } & 20,000 \\\text { Cash } & 25,300 \\\text { Equipment } & 16,800 \\\text { Fees Earned } & 44,400 \\\text { Miscellaneous Expense } & 17,800 \\\text { Rent Expense } & 3,250 \\\text { Retained Earnings } & 7,850 \\\text { Salaries Expense } & 15,400 \\\text { Wages Expense } & 15,000\end{array}$$

• A) $52,100
• B) $55,300
• C) $54,600
• D) $40,050

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Definitions:

Joint Payees

Individuals or entities named in a negotiable instrument as the collective recipients of a payment or financial obligation.

Negotiate

The process of discussing something with one or more people in order to reach an agreement or settle differences.

Alternative Payees

Refers to the option within certain financial instruments or payment arrangements to designate a different recipient than the original one specified.

Endorsee

One who receives an endorsement.