Dan and Den, Inc

Accounting Dec 16, 2020

Dan and Den, Inc. reports the following assets and liabilities. Compute the totals that would appear in the corporation's basic accounting equation (Assets = Liabilities + Stockholder's Equity (Capital Stock)).

Cash	$37,000
Accounts Payable	15,000
Supplies	1,800
Loan Payable	9,000
Inventory	12,000

Expert Solution

The answer is $50,800

	Amount
Cash	$37,000
Supplies	1,800
Inventory	12,000
Total Assets	$50,800

Accounts Payable and Loan Payable are both liabilities.

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