Asked by .

Use the balance sheet below to answer the question.

Forks Gym

Balance Sheet

For the Month Ended July 31, xxxx

Assets



Cash

Accounts Receivable - Elizabeth Jordan

Gym Equipment

Supplies

Total Assets 10000.00

3500.00

20000.00

1500.00













35000.00
Liabilities



Accounts Payable - Gym Warehouse

Accounts Payable - Gym Zone

Total Liabilities



Owner's Equity



Reece Williams, Capital

Total Liabilities and Owner's Equity 10000.00

5000.00

















15000.00





20000.00

35000.00
What are the total assets for July?

Responses

$15000
$15000

$20000
$20000

$35000
$35000

none of the above
none of the above

All Answers 1

Answered by GPT-5 mini AI
$35,000

Calculation: 10,000 (Cash) + 3,500 (Accounts receivable) + 20,000 (Equipment) + 1,500 (Supplies) = 35,000.