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A company's trial balance included the following account balances: Accounts payable $19,287 Accounts receivable 81,416 Cash 73,404 Income tax payable 3,592 Inventories 25,896 Note payable, due in two years 1,789 Equipment 54,928 Stockholders' equity 203,608 Supplies 5,592 Wages payable 12,960 What is the amount of Total Assets on the Balance Sheet

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Answer:

Total Assets on the Balance Sheet is $241,236.

Explanation:

Total Assets would include the total from the Non Current Assets Section and the total from the Current Assets Section of the Balance sheet.

Here is an extract of the Assets Section of the Balance Sheet :

Assets

Non-Current Assets

Equipment                                             $54,928

Total Non-Current Assets                    $54,928

Current Assets

Inventories                                            $25,896

Supplies                                                  $5,592

Accounts receivable                              $81,416

Cash                                                      $73,404

Total Current Assets                          $186,308

Total Assets                                        $241,236

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