Question 1

Suppose Hunt Equipment has receivables of $65,000, furniture totalling $205,000 and cash of $52,000. The business has a $109,000 bill payable and owes $81,000 on account. How much is Hunt's owner's equity? Answer this question.

\fquasrlnn 3 [ts Marks] The fella-wing trlal balance at Jew MtDewell Tuterlng Sen-ire at 31 \"3"" Elna lines net halanee: Jun-5r Mellie-well Tutering Sen-Ice Trial Balance Fnr the perind ending Ell Mia-r znla Amumumahh camputerEqqume-wt Amunurarahle Mcmwelh capltal unearned Sanka Revenue Salarr Expense FlentEapense _Ei_ Elect- and Gas- E: . me _E_ Requirements: A] Rerlew the trial balance alanwre- what are the errers In the trial balance and hew de yen fix these errnrs'l' Answer this questian in 5|] nerds er less. [5 rnarlrsl B]: Imestlgatidn df the aeenuntlng reenrds reveals the fella-wing: 1] Rederded a 55m cash revenue transactidn hvdehltlngAdedunts Fteteirable. The credit emu-1r was current. Iil Pleated a SLtIr credit he Aetdunts Parable as am: lil] Did nnt renal-d electricity and gas expense nr the related aemunts parable In the arr-aunt df $4M. It] Understartedell- McDowell, capital by $5M Prepare a eerreetedtal halanee1nrnrpdrat1n: the answers tn Fart [all and {III in [tunstlnn 3 [1: Marks