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Cullen's Catering began with cash of $8,000. Cullen then bought supplies for $2,500 on account. Separately,...

Cullens Catering began with cash of $8,000. Cullen then bought supplies for $2,500 on account. Separately, Cullen paid $6,10

Cullen's Catering began with cash of $8,000. Cullen then bought supplies for $2,500 on account. Separately, Cullen paid $6,100 for equipment. Answer these questions. a. How much in total assets does Cullen have? b. How much in liabilities does Cullen owe? a. How much in total assets does Cullen have? Cullen has $ in total assets. b. How much in liabilities does Cullen owe? Cullen owes $ in liabilities
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ReportAnswer #1

Cullen have total assets

Cash $ 1,900
Supplies $ 2,500
Equipment $ 6,100
Total $10,500

Cullen total liabilities

Accounts payable $ 2,500
Total $ 2,500

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