Question

the following table contains financial information for dillon incorporated before closing entries: cash $12,100 supplies 6,400 prepaid rent 2,900 salaries expense 5,600 equipment 66,300 service revenue 29,900 miscellaneous expense 21,800 dividends 4,000 accounts payable 4,700 common stock 66,600 retained earnings 17,900 what is the amount of dillons total assets? multiple choice $21,400 $87,700 $84,800

Explanation:

Step1: Identify asset accounts

Assets include Cash, Supplies, Prepaid Rent, and Equipment.

Step2: Sum up asset - account balances

$12100 + 6400+2900 + 66300$
$= (12100+6400)+2900 + 66300$
$=18500+2900 + 66300$
$=21400+66300$
$=87700$

Answer:

$87,700$