Following Is an Extract of Account Balances of Aztec Moving

question 210

Multiple Choice

Following is an extract of account balances of Aztec Moving Services as of December 31,after the first year of operation. $$\begin{array} { | l | r | } \hline \text { Accounts Receivable } & \$ 4,000 \\\hline \text { Accounts Payable } & 4,000 \\\hline \text { Salaries Expense } & 7,000 \\\hline \text { Repairs Expense } & 700 \\\hline \text { Truck } & 10,000 \\\hline \text { Equipment } & 9,000 \\\hline \text { Notes Payable } & 8,200 \\\hline \text { Cash } & 7,100 \\\hline \text { Supplies Expense } & 1,200 \\\hline \text { Service Revenue } & 35,000 \\\hline \text { Gasoline Expense } & 3,600 \\\hline \text { Salaries Payable } & 300 \\\hline\end{array}$$ What is the amount of total assets at the end of the year?

• A) $14,000
• B) $30,100
• C) $19,000
• D) $26,100

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Definitions:

Perfect Income Equality

A theoretical economic condition where all individuals or households earn exactly the same income, leading to absolute equity in income distribution.

Incidence Of Poverty

The proportion or frequency of individuals or families whose income falls below the poverty line, making it difficult to afford basic life necessities.

Children

Young human beings who are not yet fully grown, often considered in the context of family, education, and development.

Elderly

Refers to individuals who are advanced in age, typically considered to be those who are 65 years or older, often associated with retirement and receiving senior citizen benefits.