The accounts in the ledger of monroe entertainment co. are listed below. all accounts have normal balances. accounts payable $409 fees earned $1,915 accounts receivable 959 insurance expense 436prepaid insurance 4,108 land 1,791 cash 1,309 wages expense 731 drawing 321 capital 7,331 total assets are a. $1,915 b. $3,633 c. $8,167 d. $7,331

Total assets  = $8167

so correct option is c. $8,167

Explanation:

given data

Accounts Payable = $409

Fees Earned = $1,915

Accounts Receivable = 959

Insurance Expense = 436

Prepaid Insurance = 4,108

Land = 1,791

Cash = 1,309

Wages Expense = 731

Drawing = 321

Capital = 7,331

to find out

Total assets

solution

we get here Total assets that is express as

Total assets = Accounts receivable + Prepaid insurance + Cash + Land  1

put here value and we get  

Total assets  = 959 + 4108 + 1309 + 1791

Total assets  = $8167

so correct option is c. $8,167