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The accounts in the ledger of Monroe Entertainment Co. follow. All accounts have normal balances. Line Item Description Amount Accounts Payable $1,500 Accounts Receivable 1,800
The accounts in the ledger of Monroe Entertainment Co. follow. All accounts have normal balances.
Line Item Description | Amount |
---|---|
Accounts Payable | $1,500 |
Accounts Receivable | 1,800 |
Supplies | 500 |
Prepaid Insurance | 2,000 |
Cash | 3,200 |
Office Equipment | 1,800 |
Dividends | 1,200 |
Unearned Rent | 1,600 |
Fees Earned | 8,600 |
Insurance Expense | 1,300 |
Rent Expense | 1,500 |
Land | 8,000 |
Wages Expense | 1,400 |
Retained Earnings | 5,500 |
Common Stock | 9,200 |
Total liabilities are
a. $1,500
b. $3,100
c. $14,300
d. $7,300
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