Question
Berwick Company compiled the following financial information as of December 31, 2008: Revenues $140,000 Berwick, Capital (1/1/08) 105,000 Equipment 40,000 Expenses 125,000 Cash 35,000 Berwick,
Berwick Company compiled the following financial information as of December 31, 2008: Revenues $140,000 Berwick, Capital (1/1/08) 105,000 Equipment 40,000 Expenses 125,000 Cash 35,000 Berwick, Drawings 10,000 Supplies 5,000 Accounts payable 20,000 Accounts receivable 15,000
10. Berwicks assets on December 31, 2008 are a. $235,000. b. $170,000. c. $80,000. d $95,000.
11. Berwicks owners equity on December 31, 2008 is a. $105,000. b. $110,000. c. $80,000. d. $120,000.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
IFRS edition volume 2
978-0470613474, 470613475, 978-0470616314
