Question

Blue Spruce Corp. compiled the following financial information as of December 31, 2017: Service revenue $1181000 Common stock 243000 Equipment 318000 Operating expenses 943000 Cash 283000 Dividends 79000 Supplies 35000 Accounts payable 167000 Accounts receivable 112500 Retained earnings, 1/1/17 615000 Blue assets on December 31, 2017 are:

Answer 1

Blue assets on December 31: $748,500

Step-by-step explanation:

Assets accounts:

Equipment $318,000

Cash $283,000

Supplies $35,000

Accounts receivable $112,500

Blue assets on December 31, 2017 are: $748,500

The other accounts should not be included.