Question: Do It! Review 1-05 a-c Presented below is selected information related to Cullumber Company at December 31, 2020. Cullumber reports financial information monthly. Accounts Payable

Do It! Review 1-05 a-c

Presented below is selected information related to Cullumber Company at December 31, 2020. Cullumber reports financial information monthly.
Accounts Payable $ 4,054 Salaries and Wages Expense $22,298
Cash 8,784 Notes Payable 33,785
Advertising Expense 8,108 Rent Expense 14,190
Service Revenue 72,300 Accounts Receivable 18,244
Equipment 39,191 Owners Drawings 10,135
Determine the total assets of Cullumber Company at December 31, 2020.
Total assets $

SHOW SOLUTION
Determine the net income that Cullumber Company reported for December 2020.
Net income $

SHOW SOLUTION
Determine the owners equity of Cullumber Company at December 31, 2020.
Owners equity $

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