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To find the company's total assets in 2021, we will analyze the information provided and calculate the assets using the following components:

### Steps:
1. **Cash from issuing common stock**: This is an asset for the company. 
   - Amount = $430,000.

2. **Loan from a friend**: The borrowed amount is a liability, but the cash received counts as an asset.
   - Amount = $230,000.

3. **Equipment purchased**: The equipment is an asset for the company.
   - Amount = $230,400.

4. **Prepaid rent**: The rent payment of $150,000 is for a 60-month period starting from September 1, 2021. The portion of this prepaid rent that covers 2021 (September–December) will be expensed, while the remaining portion is treated as a prepaid asset. 
   - Total rent paid = $150,000.
   - Monthly rent expense = $150,000 / 60 months = $2,500.
   - Rent expense for 2021 (4 months) = $2,500 × 4 = $10,000.
   - Prepaid rent (treated as an asset) = $150,000 − $10,000 = $140,000.

5. **Accounts receivable**: The company provided services valued at $158,400 but only collected $126,720 by the end of 2021. The remaining amount ($158,400 − $126,720) will be collected in the next year, and is considered an asset.
   - Accounts receivable = $158,400 − $126,720 = $31,680.

### Total Assets in 2021:
We sum all the above asset components:

- Cash from issuing stock = $430,000.
- Cash from loan = $230,000.
- Equipment = $230,400.
- Prepaid rent = $140,000.
- Accounts receivable = $31,680.

\[
\text{Total Assets} = 430,000 + 230,000 + 230,400 + 140,000 + 31,680 = 1,062,080.
\]

### The company's total assets in 2021 are **$1,062,080**.

Would you like further details or explanations on any part? 

Here are some questions to expand your understanding:

1. How does the treatment of prepaid expenses affect the balance sheet?
2. What would happen to total assets if part of the loan had to be repaid by year-end?
3. Why is accounts receivable considered an asset?
4. How would equipment depreciation affect the future balance sheets?
5. How would an uncollected amount of services impact next year's financial position?

**Tip:** Always keep track of the distinction between assets, liabilities, and expenses when analyzing financial statements.

Williams Group started a new business on September 1, 2021. The company received $430,000 of cash from issuing stock, borrowed $230,000, purchased equipment for $230,400, and paid $150,000 to rent office space for 60 months. During 2021, they provided services worth $158,400 but collected only $126,720. The company’s payroll for 2021 was $83,800. What is the total value of assets for 2021?

Learn how to calculate the total assets of Williams Group based on common stock issuance, equipment purchase, rent prepayment, and accounts receivable. Explore the breakdown of each component, leading to a total asset value of $1,062,080 at the end of 2021.

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