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30 July, 09:56

Pack Company had the following dа ta: 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?

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  1. 30 July, 10:17
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    Answer: $19,000

    Explanation:

    Given that,

    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

    Amount of total Assets = Cash + Accounts Receivable + Office Supplies

    = $12,000 + $3,000 + $4,000

    = $19,000
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