The Company's Total Assets Are $36,000 Required:
Part A

question 15

Essay

The company's total assets are $36,000.The following is a listing of the company's accounts and account balances as of December 31,Year 3.This company doesn't have any other accounts.
$\begin{array}{lr}\text { Accounts Payable } & \$ 7,000 \\\text { Accounts Receivable } & 8,000 \\\text { Supplies } & 1,000 \\\text { Equipment } & 22,000 \\\text { Common Stock } & 10,000 \\\text { Cash } & \text { Unknown } \\\text { Retained Earnings } & \text { Unknown }\end{array}$ Required:
Part a.Determine the balance of the Cash account.
Part b.Determine the balance of the Retained Earnings account.

---

Definitions:

Economics

The social science that studies how individuals, governments, and societies make choices regarding the allocation of limited resources to satisfy unlimited wants.

Nobel Prize

Prestigious international awards granted annually in several categories including Physics, Chemistry, Medicine, Literature, and Peace, recognizing significant contributions to humanity.

Social Science

The field of scholarly or scientific study that examines society and human behaviors in various contexts.

Business Discipline

Pertains to the adherence to management theories and practices that aim to improve efficiency, productivity, and accountability in business operations.