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What are total assets for San Marcos Corporation

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Reference no: EM133067312

Question - Presented below are selected accounts for San Marcos Corporation for December 31 of the current year.

 

Debit

Credit

Accounts Receivable-trade

$750

 

Building and Equipment

1,040

 

Cash in Bank-operating

79

 

Interest Receivable-due in 1 month

65

 

Installment Receivables-due in 3 months

80

 

Merchandise Inventory

35

 

Land

310

 

Notes Receivable-long term

525

 

Petty Cash

8

 

Prepaid Expenses-current

42

 

Supplies

29

 

Patent

90

 

Accounts Payable-trade

 

$6251

Accumulated Depreciation

 

225

Additional Paid-in Capital

 

620

Allowance for Uncollectible Accounts

 

75

Cash Dividends Payable

 

90

Common Stock-$1 par value

 

55

Income Tax Payable

 

105

Notes Payable-2 years

 

920

Retained Earnings

 

65

Unearned Revenues-2 years

 

85

Cash Dividends Declared

240

 

Service Revenue

 

628

Operating Expenses

200

 

Totals

$3,493

$3,493

Required - What are total assets for San Marcos Corporation?

A. $2,828

B. $2,753

C. $2,808

D. $2,883

Reference no: EM133067312

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