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What is the amount of total assets for sacks company

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Reference no: EM133011332

The following information is provided for Sacks Company.

Cash $12,000 Supplies $4,500

Prepaid rent 2,000 Salaries expense 4,500

Equipment 65,000 Service revenue 30,000

Miscellaneous expenses 20,000 Dividends 3,000

Accounts payable 5,000 Common stock 68,000 Retained earnings 8,000

Problem 1: What is the amount of total assets?

a. $81,500

b. $82,500

c. $68,500

d. $83,500

Problem 2: What is the amount of total liabilities?

a. $5,000

b. $78,500

c. $68,500

d. $83,500

Reference no: EM133011332

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