cash $ 28,550\naccounts receivable 2,100\nsupplies 500\nequipment 11,800\nland 33,000\naccounts payable $…

cash $ 28,550\naccounts receivable 2,100\nsupplies 500\nequipment 11,800\nland 33,000\naccounts payable $ 500\ncommon stock 69,000\ndividends 2,000\nservice revenue 11,900\nsalary expense 2,500\nadvertising expense 560\nutilities expense 390\ntotal $ 81,400 $ 81,400\nrequirement 4. matias cloutier, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether august was profitable (and by how much).\ntotal resources =\namount owed =

cash $ 28,550\naccounts receivable 2,100\nsupplies 500\nequipment 11,800\nland 33,000\naccounts payable $ 500\ncommon stock 69,000\ndividends 2,000\nservice revenue 11,900\nsalary expense 2,500\nadvertising expense 560\nutilities expense 390\ntotal $ 81,400 $ 81,400\nrequirement 4. matias cloutier, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether august was profitable (and by how much).\ntotal resources =\namount owed =

Answer

Explanation:

Step1: Calculate total resources (assets)

Total resources = Cash + Accounts receivable+ Supplies + Equipment + Land = $28550 + 2100+500 + 11800+33000$ = $75950$

Step2: Determine amount owed (liabilities)

Amount owed = Accounts payable = $500$

Step3: Calculate profit

Profit = Service revenue - (Salary expense + Advertising expense+ Utilities expense) - Dividends = $11900-(2500 + 560+390)-2000$ = $11900 - 3450-2000$ = $6450$

Answer:

Total resources = $75950$ Amount owed = $500$ Profit = $6450$