Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ACCOUNT BALANCE Answer the following questions by using the balances provided here: ACCOUNT BALANCE ACCOUNT BALANCE Cash 78,000 Equipment 15,000 Unearned Revenue 3,000 A/R 20,000

image text in transcribed
ACCOUNT BALANCE Answer the following questions by using the balances provided here: ACCOUNT BALANCE ACCOUNT BALANCE Cash 78,000 Equipment 15,000 Unearned Revenue 3,000 A/R 20,000 Mortgage 60,000 Inventory 4,000 Capital 26,800 Truck 47,800 Retained Earnings 40,000 Wages Payable 4,000 Long Term N/P 25,000 AP 11,000 Prepaid Insurance 1,200 Supply 3,800 OC$169,800 Od 5142,000 How much is the total amount of Assets? Oa.$171,000 Ob.$132,000 How much is the amount of total Liabilities? Oa. $156,000 Ob $106,000 Oc$103,000 Od. $146,000

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

More Books

Students also viewed these Accounting questions