Cascade Company had total assets of $699,000 at the end of 2013. Their revenue was $430,000 with expenses of $307,000. Their assets included $127,000 in cash, $254,000 in equipment, $42,000 in accounts receivable, and $76,000 in notes receivable.

1. Below is accounting information for Cascade Company for 2013:
What were the total assets at year-end?
Revenue $ 430,000
Cash 127,000
Common stock 207,000
Expenses 307,000
Equipment 254,000
Accounts receivable 42,000
Notes payable 64,000
Notes receivable 76,000
Solution
Hi,
Please find the detailed answer as follows:
Total Assets (Year End) Table:
Option D ($4,99,000) is the correct answer.
Thanks.
Amount Nature of Asset
Cash 1,27,000 Current Asset
Equipment 2,54,000 Fixed Asset
Accounts
receivable
42,000 Current Asset
Notes receivable 76,000 Current Asset
Total Assets 4,99,000