Question

Pack Company had the following data: Service Revenue $10,000 Cash $12,000 Accounts Receivable $3,000 Office Supplies $4,000 Rent Expense $2,000 Salaries Expense $1,200 Utilities Expense $800 Accounts Payable $3,200 What is the amount of total Assets to report on the Balance Sheet for Pack Company?

Answer 1

The total assets for Pack Company to report on the Balance Sheet is $19,000.

Step-by-step explanation:

The total assets can be calculated by summing the Cash, Accounts Receivable, and Office Supplies. In this case, the total assets would be $12,000 (Cash) + $3,000 (Accounts Receivable) + $4,000 (Office Supplies) = $19,000.