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Calculate the total assets for the SloMo Delivery Service

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Question - At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $1,220; Prepaid Insurance, $520; Equipment, $36,400 and Cash, $40,750. On the same date, SloMo owed the following creditors: Simpson Supply Company, $12,200; Allen Office Equipment, $9,600.

Calculate the total assets for the SloMo Delivery Service?

a. $77,150

b. $42,490

c. $41,970

d. $78,890

Reference no: EM132477953

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