Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marvellous Computer Systems Ltd. Balance Sheet Year ending December 31, 2021 ASSETS Cash 18,650 office supplies 2,1451 Prepaid insurance 1,500 Inventory 5,575 Accounts receivable 1,500

image text in transcribed
image text in transcribed
image text in transcribed
Marvellous Computer Systems Ltd. Balance Sheet Year ending December 31, 2021 ASSETS Cash 18,650 office supplies 2,1451 Prepaid insurance 1,500 Inventory 5,575 Accounts receivable 1,500 Prepaid rent 1,650 Deferred revenue 2,165 Equipment 95,300 TOTAL ASSETS 128,485 2,400 11,640 22,500 27,000 LIABILITIES AND EQUITY Interest payable Salaries payable Accumulated depreciation Note payable (due in 2023) Accounts payable Income tax payable Dividends Retained earnings (INCORRECTI) Profit Owners capital 2,385 2,100 17.500 20.310 15.650 TOTAL LABUTES AND EQUITY Question 80 (2 points) What is the correct amount of total liabilities? Question 81 (2 points) What is the correct amount of retained earnings? 4 Question 82 (1 point) What is the correct heading for this statement? (1 mark) Balance Sheet, December 31, 2021. Marvellous Computer Systems Ltd. December 31, 2021, Balance Sheet, Marvellous Computer Systems Ltd. Marvellous Computer Systems Ltd., Year ended December 31, 2021. Balance Sheet The heading above is correct. Balance Sheet. Marvellous Computer Systems Ltd. Year ended December 31 2021 Marvellous Computer Systems La Balance Sheet. December 31, 2021 SAMSUNG Question 83 (2 points) What is the correct amount of current assets? Question 84 (2 points) What is the correct amount of total equity? A/ Question 85 (2 points) What is the correct amount of current liabilities? A/ Question 86 (2 points) What is the correct amount of total assets? Ay Question 87 (2 points) What is the correct amount of long-lived assets

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

Intermediate Accounting 2007 FASB Update Volume 1

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

12th Edition

0470128755, 978-0470128756

More Books

Students also viewed these Accounting questions