A company reported the following in its recent balance sheet:

Accounts Payable $19,207
Accounts Receivable $81,336
Cash $73,324
Income Tax Payable $3,512
Inventories $25,816
Long-term Liabilities $1,709
Properties and Equipment $54,128
Stockholder's Equity $202,808
Supplies $5,512
Wages Payable $12,880

What is the amount of Total Assets on the Balance Sheet?

a. $240,116
b. $259,323
c. $234,604
d. $442,924

a. $240,116

Explanation:

The following are considered assets in the above question.

Accounts Receivable $81,336

Cash $73,324

Inventories $25,816

Properties and Equipment $54,128

Supplies $5,512

So adding them up we have,

= 81,336 + 73,324 + 25,816 + 54,128 + 5,512

= $240,116

$240,116 is the amount of Total Assets on the Balance Sheet so option A is correct.

NB - Supplies are considered Assets when they are significant.

a. $240,116

Explanation:

The balance sheet has two sides, assets and Liabilities side and both sides must always equal each other.The assets include items such as cash supplies inventories , and other resources which have expected future benefits.

Liability accounts are claims against assets which means they are obligations to transfer assets or provide product or services to other entities. Equity is the owner's residual interest in the assets after deducting liabilities.

The Balance Sheet

Cash $73,324

Supplies $5,512

Inventories $25,816

Accounts Receivable $81,336

Properties and Equipment $54,128

Total Assets $ 240116

Accounts Payable $19,207

Wages Payable $12,880

Income Tax Payable $3,512

Long-term Liabilities $1,709

Stockholder's Equity $202,808

Total Liabilities and Owner's Equity $ 240116

So we see that both sides are equal so choice a is the best option.

answer: nobody

explanation:

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.