Respuesta :
Answer:
Total assets = $136,000
Total liabilities = $30,000
Explanation:
Total assets: It includes all types of assets whether it is current or long term assets or intangible assets.
Total liabilities: It include all types of liabilities whether it is current or long term liabilities
The computation of the total assets is shown below:
= Cash + accounts receivable + inventory + land
= $5,000 + $38,000 + $28,000 + $65,000
= $136,000
The computation of the total liabilities is shown below:
= Accounts payable
= $26,000
Answer:
The total assets = $136,000
Total liabilities = $26,000
Explanation:
Given:
Total cash = $5,000
Accounts payable = $26,000
accounts receivable = $38,000
inventory = $28,000
cost of land = $65,000
Now,
the total assets = Total cash + accounts receivable + inventory + cost of land
or
the total assets = $5,000 + $38,000 + $28,000 + $65,000 = $136,000
Total liabilities = $26,000
