The accountant for PurpleShops has compiled the following information about the business and its accounts: Cash$2,000 Inventory$20,000Revenues10,000 Expenses6,000Accounts   Payable6,000 Equipment15,000Wages Payable4,000 Notes payable24,000      What are the total assets of this business?Question 7Select one:a.15,000b.47,000c.37,000d.41,000

Question 10Use the balance sheet pictured to answer the following question.Balance SheetCurrent assetsAmount Cash$2,500 Accounts receivable$400 Inventory$400 Prepaid rent$10,000Long-term assets Equipment$3,900 Vehicle$25,000 Accumulated depreciation-$2,500 Furniture$2,200 Computers$2,600Total Assets$44,500If Eternal Summer purchased $500 worth of Inventory using their supplier credit line, what would the total assets be after the transaction? 1 point$44,000$44,500$45,000

From the following account balances of Frosty Pty Ltd as at 30 June 2019, what is the total value of the business ASSETS? Cash at bank                                                 $14, 000Accounts receivable (net)                             54,000Inventory                                                         64,000Plant and equipment                                  350,000Goodwill                                                        180,000Accounts payable                                           45,000Borrowings                                                   184,000Provisions                                                        45,000Share capital                                                 240,000Retained earnings                                       148,000

The balance sheet shows the following accounts and amounts:Cash $26,000; Short-term Debt $42,000; Buildings and Equipment $840,000; Inventory, $88,000; Notes Payable $120,000; Accumulated Depreciation $220,000; Common Stock $160,000; Accounts Receivable $76,000; Retained Earnings $474,000; Accounts Payable $34,000.Total assets on the balance sheet are:Multiple Choice$1,030,000.$734,000.$1,250,000.$810,000.

Question 8How would you categorize $3,500 worth of computer equipment that the business will use as part of its operations? 1 pointCurrent assetsLong-term assetsEquity

The statement below is likely from which of the following business (type of business and form of organisation):Balance Sheet As of 30th June 2021Assets  Cash$50,000 Accounts Receivables90,000  Land270,000  Buildings (net)220,700Total assets$630,700Liabilities  Accounts payable280,000Net Assets$350,700Shareholders' Equity Share capital$225,000Retained earnings  125,700Total stockholders' equity$350,700Question 2Answera.a merchandising partnershipb.a merchandising companyc.a merchandising sole-proprietorshipd.a service sole-proprietorshipe.a service company