Question

Use the balance sheet below to answer the question.

Forks Gym
Balance Sheet
For the Month Ended August 31, xxxx
Assets


Cash
Accounts Receivable - Luke Taylor
Gym Equipment
Supplies
Total Assets 15,000.00
2,000.00
50,000.00
5,000.00





72,000.00

Liabilities


Accounts Payable - Gym Warehouse
Accounts Payable - Gym Zone
Total Liabilities

Owner's Equity


Megan Kluxen, Capital
Total Liabilities and Owner's Equity 10,000.00
15,000.00







25,000.00



47,000.00
72,000.00
What are the total assets of Forks Gym for August?

Responses

$25,000
$25,000

$47,000
$47,000

$72,000
$72,000

none of the above

Answer 1

$72,000