Question
Based on the below information, answer the following 5 questions. As the new accountant for Barney Technologies, you notice that their some information has not
Based on the below information, answer the following 5 questions.
As the new accountant for Barney Technologies, you notice that their some information has not been included in their account balances. Answer the following questions based on the information below.
Barney Technologies
Balance Sheet as at 30 June 2021
Cash | 18,000 | Accounts payable | 4,500 | |
Office supplies | 1,500 | Merchandise inventory | 12,000 | |
Accounts receivable | 3,000 | Bank loan | 27,000 | |
Property and equipment | 75,000 | Owners equity | 78,000 |
The following information has not been incorporated to the accounts of Barney at the end of the period.
1. On the 30 June, Barney withdrew $2,000 from the business.
2. Depreciation for the year of $7,500 has not been included.
3. Although the invoice has not arrived, utilities expense for the last month is expected to be $300.
The heading/title of the Balance Sheet is:
Q. What is the total assets amount?
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