Consider the following information: Cash: $10,000 Accounts Receivable: $7,000 Office Supplies: $2,000 Prepaid Insurance: $3,000 Buildings: $150,000 A

Feb 12, | ACCT

Consider the following information:

Cash: $10,000
Accounts Receivable: $7,000
Office Supplies: $2,000
Prepaid Insurance: $3,000
Buildings: $150,000
Accumulated Depreciation: ($30,000)
Accounts Payable: $5,000
Notes Payable: $30,000
Owner’s Equity: $107,000

From the above set of data, what is the total for assets, liabilities, and equity?

A.)

Total Assets: $142,000
Total Liabilities: $35,000
Total Equity: $107,000

B.)

Total Assets: $172,000
Total Liabilities: $35,000
Total Equity: $137,000

C.)

Total Assets: $167,000
Total Liabilities: $30,000
Total Equity: $137,000

D.)

Total Assets: $152,000
Total Liabilities: $35,000
Total Equity: $117,00