The following items are components of a traditional balance sheet. how much are the total assets of the firm?
plant and equipment $42,000
common stock $15,000
cash $ 8,000
inventory $21,000
allowance for uncollectable accounts $ 6,000
paid-in capital $ 6,000
accumulated depreciation $28,000
accounts receivable $22,000

$ 59,000

Explanation:

The total Asset is compounded of:

Plant and Equipment $42,000

Cash $ 8,000

Inventory $21,000

Allowance for Uncollectable Accounts   $ 6,000 ( negative, netting Accounts Receivables )

Accumulated Depreciation $28,000 ( negative, netting Plant and Equipment )

Accounts Receivable $22,000

Assets ( Net ) : $ 59,000

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