Answered step by step
Verified Expert Solution
Question
1 Approved Answer
pls answer all asap Huimin Ltd. had the following account balances at December 31, 2021 : begin{tabular}{|l|r|} hline Office supplies expense & 350 hline
pls answer all asap
Huimin Ltd. had the following account balances at December 31, 2021 : \begin{tabular}{|l|r|} \hline Office supplies expense & 350 \\ \hline Cash (beginning of year) & 31,550 \\ \hline Service revenue & 33,720 \\ \hline Cash received from debt & 10,000 \\ \hline Prepaid insurance & 1,200 \\ \hline Office supplies & 975 \\ \hline Business licence & 60 \\ \hline Cash (end of year) & 47,875 \\ \hline Income tax payable & 500 \\ \hline Owners' capital & 21,000 \\ \hline Website design & 960 \\ \hline Telephone expense & 375 \\ \hline Contributions by owners & 7,500 \\ \hline Accounts payable & 12,625 \\ \hline Bank loan payable, due in 2025 & 10,000 \\ \hline \end{tabular} What is the correct title for this company's balance sheet? a. Balance Sheet, Huimin Ltd., Year ended December 31, 2021 b. Huimin Ltd., Balance Sheet, December 31, 2021 C. Huimin Ltd., Balance Sheet, Year ended December 31, 2021 d. December 31, 2021, Balance Sheet, Huimin Ltd. e. Huimin Ltd., December 31, 2021, Balance Sheet Enter the letter that corresponds to your choice. (A B C D E) A What is total current assets on this company's balance sheet? What is the correct order for the current assets section of this company's balance sheet Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started