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Question 10 (1 point) HONEST RON'S FURNITURE OUTLET LTD. Statement of Financial Position December 31, 2022 $ 30,000 10,000 130,000 $170,000 Cash Accounts receivable Supplies
Question 10 (1 point) HONEST RON'S FURNITURE OUTLET LTD. Statement of Financial Position December 31, 2022 $ 30,000 10,000 130,000 $170,000 Cash Accounts receivable Supplies Inventory Land Building Less: Accum. Depreciation Trademark Less: Accum. Amortization Total assets $100,000 20,000 $ 40,000 10,000 $ 5,000 Accounts payable 20,000 Salaries payable 1,000 Mortgage payable 170,000 Total liabilities 100,000 Shareholders' equity Common shares 80,000 Retained earnings Total shareholders' equity 30,000 Total liabilities and $406.000 shareholders' equity $140,000 96,000 236.000 $406.000 The dollar amount of current assets is $196,000. $ 26,000. $ 40,000. $ 25,000
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