Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 22 (3 points) The account balances of Inner Harbor Padding Company on December 31, 2020 is shown below with the accounts in alphabetical order:

image text in transcribed
image text in transcribed
Question 22 (3 points) The account balances of Inner Harbor Padding Company on December 31, 2020 is shown below with the accounts in alphabetical order: Accounts payable 29,500 Accounts receivable 19,000 Accumulated depreciation - equipment 26,280 Cash 11,000 Cost of goods sold 575,500 Depreciation expense 11,170 Equipment 65,700 Insurance expense 2,900 Interest expense 2, 000 Interest revenue Inventory 57,000 Notes payable (due in 2024) 38,9901 Notes receivable (due in 2021) 33,260 Rent expense 15,500 Sales 686,000 Supplies expense 5,600 Unearned revenue 5,900 Bruce, capital (no capital investments in 72,200 year) Bruce, drawings 61,200 960 Refer to the Inner Harbour Paddle Company trial balance (above) to complete this question. Compute the following amounts and write the amount in the corresponding answer boxes below. Do not use dollar signs, commas or decimal points. For example, if MacBook Air Refer to the Inner Harbour Paddle Company trial balance (above) to complete this question. Compute the following amounts and write the amount in the corresponding answer boxes below. Do not use dollar signs, commas or decimal points. For example, if current assets total one thousand two hundred and five dollars, you would write: 1205 1. Total current asset amount (1st box) 2. Capital asset amount (2nd box) 3. Total current liability amount (3rd box) 4. Owner's equity (4th box) Question 23 (1.5 points) The account balances of Inner Harbor Padding Company on December 31, 2020 is shown below with the accounts in alphabetical order: Accounts payable 29,500 Accounts receivable 19,000 Accumulated depreciation - equipment 26,280 MacBook Air $ % ^ & *

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_2

Step: 3

blur-text-image_3

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

Operational Auditing A Complete Guide

Authors: Gerardus Blokdyk

2019 Edition

0655515879, 978-0655515876

More Books

Students also viewed these Accounting questions

Question

In Exercises 4344, find A -1 and check. A = et ex -ex ex

Answered: 1 week ago