What Are the Total Assets Shown on the Trial Balance

question 12

Multiple Choice

What are the total assets shown on the trial balance below?
Common stock……$120,000 Accounts payable…...$25,000
Cash……………….$116,640 Accounts receivable..$22,450
Supplies………… $ 1,500 Office equipment…...$23,300
Prepaid rent……....$ 3,200 Unearned revenue….$ 4,152
Service revenue.....$ 20,000 Utilities expense…....$ 422
Retained earnings...$ 30,000 Shaving equipment… $31,640

• A) $291,340
• B) $106,962
• C) $198,730
• D) $218,730
• E) $221,580

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Definitions:

Coerced

Compelled to act or make a decision through force or threats.

Mental Illness

Mental illness encompasses a wide range of mental health conditions that affect mood, thinking, and behavior.

Invalid

refers to something that is not legally or officially acceptable or that lacks legal force and effect.

Possessions

Items or assets owned by an individual or entity.