Question
1- If Brown Company ended the year with liabilities of $73,803 and owner's equity of $246,094, how much do they have in assets? 2- ABC
1- If Brown Company ended the year with liabilities of $73,803 and owner's equity of $246,094, how much do they have in assets?
2- ABC Company had $780,433 in revenues and $169,266 in expenses, how much is their net income/(loss)?
3- The Green Thumb Plant Service Company performed services that were not recorded for $1,180. How much should the company record as accrued revenue?
4- If revenues of $4,794 were closed to income summary and expenses of $548 were closed to income summary, what is the balance in the income summary account that must be closed to Owner's Capital.
5-
For each of the following accounts, identify whether it is nominal/temporary or real/permanent and on which financial statement it is reported.
Interest Expense [ Select ] ["nominal/temporary", "real/permanent"] [ Select ] ["Income Statement", "Owner's Equity Statement", "Balance Sheet"]
Interest Payable [ Select ] ["nominal/temporary", "real/permanent"] [ Select ] ["Income Statement", "Balance Sheet", "Owner's Equity Statement"]
Unearned Revenue [ Select ] ["nominal/temporary", "real/permanent"] [ Select ] ["Income Statement", "Balance Sheet", "Owner's Equity Statement"]
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