Bologna Lodging Had the Following Accounts and Balances as of December

question 280

Multiple Choice

Bologna Lodging had the following accounts and balances as of December 31:
$\begin{array}{lrr}\text {Account}&\text {Debit}&\text {Credit}\\\text { Cash } & \$ 20,000 \\\text { Accounts Receivable } & 2,000 \\\text { Salaries Expense } & 500\\\text { Accounts Pavable }&&\$ 4000\\\text { Lodging Revenue } & & 7,000 \\\text { Utilities Expense } & 500 & \\\text { Prepaid Insurance } & 1,400 & \\\text { Supplies } & 1,500 & \\\text { Common Stock } & & 10,000 \\\text { Retained Earnings } & &4,900 \\\text { Totals } & \$ 25,900 & \$ 2,9,900 \\\end{array}$
Using the information in the table,calculate the total assets reported on Bologna's balance sheet for the period.

• A) $ 24,900.
• B) $ 25,400.
• C) $ 22,500.
• D) $ 25,900.
• E) $ 23,400.

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Gay Identical Twin

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Gay Fraternal Twin

A homosexual individual who has a fraternal (non-identical) twin, used in studies to understand the role of genetics vs. environment in sexual orientation.

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