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Please answer question 2 and 3. i neee to verify my answer for question 2 and i need the answer for quedtion 3. thank you
Please answer question 2 and 3. i neee to verify my answer for question 2 and i need the answer for quedtion 3. thank you Question 2 0.5 pts USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (3) QUESTIONS: The records of a company show the following account balances as of December 31, 20x1 except where indicated otherwise. Note Payable (due Nov 1, 20X2) $ 2,000 Retained Earnings (Jan. 1, 20x1) $ 3.900 Revenues 55,600 Supplies 700 6,600 Supplies Expense Cash .900 800 Insurance Expense 1,200 Prepaid Advertising Depreciation Expense 100 Rent Expense 6,900 18,000 Common Stock (Jan. 1, 20x1) 19,500 Accounts Receivable Unearned Revenues 11,500 Accounts Payable 1,600 Equipment 15,000 Accumulated Depreciation 2,000 27,000 Cost of goods sold Inventory 8.000 Allowance for Doubtful Accounts 600 Discount on Note Payable 500 U BOUSSUU Allowance for Doubtful Accounts 600 Discount on Note Payable 500 The owner of the company made an additional investment of $2,000 in the business during the year in exchange for common stock and dividends of $4,000 were declared and paid. The Unearned Revenues represent a prepayment received from a customer and 80% of these services will be completed by December 31, 20x2. Required: Determine Total Assets (t.e.net of any contra accounts) at December 31, 20x1: 48700 Question 3 0.5 pts USING THE INFORMATION FROM #2 ABOVE, ANSWER THE FOLLOWING: Determine the Total Current Liabilities at December 31, 20X1: $
Please answer question 2 and 3. i neee to verify my answer for question 2 and i need the answer for quedtion 3. thank you
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