Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. 1 Aster Turane invested $50,000 cash, a $21,000 computer system, and $18,000 of office equipment in the business. 2 Paid six months of rent

. 1 Aster Turane invested $50,000 cash, a $21,000 computer system, and $18,000 of office equipment in the business. 2 Paid six months of rent in advance; $12,000. 3 Purchased computer supplies on credit for $1,975 from Triple-One Supplies. 5 Paid $8,640 cash for one year's premium on a property and liability insurance policy. 6 Billed Norton Electric $6,300 for installing a new computer system. 8 Paid for the computer supplies purchased from Triple-One Supplies. 10 Hired Donald Gee as a part-time assistant for $345 per day, as needed. 12 Billed Norton Electric another $1,850 for computer services rendered. 15 Received $1,650 from Norton Electric on its account. 17 Paid $375 to repair equipment damaged when moving into the new office. 20 Paid $1,950 for an advertisement in the local newspaper. 22 Received the balance owing from Norton Electric on its account. 28 Billed Whistler Resort $9,400 for services. 31 Paid Donald Gee for nine days' work. 31 Aster Turane withdrew $1,200 cash from the business for personal use.

question

What is the balance of the cash account at the month end?

  • 28905

  • 23905

  • 21905

  • 24905

What is the balance of the total assets at the month end?

  • 83700

  • 86830

  • 82700

  • 96550

How much is the total expense is this month?

  • 8800

  • 8720

  • 8650

  • 7950

What is the balance of total current assets at the month end?

  • 53200

  • 48900

  • 58200

  • 48200

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting At War The Politics Of Military Finance

Authors: Warwick Funnell, Michele Chwastiak

1st Edition

1138616737, 9781138616738

More Books

Students also viewed these Accounting questions