The Following Table Contains Financial Information for Trumpeter Inc What Is the Amount of Trumpeter's Total Assets?
A) $81,500

question 53

Multiple Choice

The following table contains financial information for Trumpeter Inc. before closing entries: $$\begin{array} { | l | r | } \hline \text { Cash } & \$ 12,000 \\\hline \text { Supplies } & 4,500 \\\hline \text { Prepaid Rent } & 2,000 \\\hline \text { Salaries Expense } & 4,500 \\\hline \text { Equipment } & 65,000 \\\hline \text { Service Revenue } & 30,000 \\\hline \text { Miscellaneous Expenses } & 20,000 \\\hline \text { Dividends } & 3,000 \\\hline \text { Accounts Payable } & 5,000 \\\hline \text { Common Stock } & 68,000 \\\hline \text { Retained Earnings } & 8,000 \\\hline\end{array}$$ What is the amount of Trumpeter's total assets?

• A) $81,500
• B) $82,500
• C) $68,500
• D) $83,500

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Definitions:

Variance

A statistical measurement that represents the spread between numbers in a data set, indicating how much the numbers differ from the average value.

Variance

A statistical measure that represents the extent to which a set of numbers varies from the average of that set.

Probability

The measure or estimation of how likely it is that an event will occur, expressed as a number between 0 (impossible) and 1 (certain).