The Accounts in the Ledger of Monroe Entertainment Co Total Assets Are
A) $10,000
B) $8,000
C) $9,700
D)

question 109

Multiple Choice

The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances.?? $$\begin{array} { l r l r } \text { Accounts Payable } & \$ 1,500 & \text { Fees Earned } & \$ 3,600 \\\text { Accounts Receivable } & 1,800 & \text { Insurance Expense } & 1,300 \\\text { Prepaid Insurance } & 2,000 & \text { Land } & 3,000 \\\text { Cash } & 3,200 & \text { Wages Expense } & 1,400 \\\text { Drawing } & 1,200 & \text { Capital } & 8,800\end{array}$$ Total assets are

• A) $10,000
• B) $8,000
• C) $9,700
• D) $9,800

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Definitions:

Cones

Cones are photoreceptor cells in the retina of the eye responsible for color vision and functioning best in relatively bright light.

Retina

A layer of cells located at the back of the eye, responsible for converting light into neural signals that can be processed by the brain to produce visual images.

Cones

Photoreceptor cells in the retina of the eye responsible for color vision and functioning best in relatively bright light.

Rods

Visual sensory receptors found at the back of the retina, responsible for noncolor sensitivity to low levels of light.