Question
The following accounts were included on ABC Inc., adjusted trial balance at December 31, 2014: 5 Marks Accounts payable $ 9,200 Accounts receivable 12,000 Cash
The following accounts were included on ABC Inc., adjusted trial balance at December 31, 2014: 5 Marks
Accounts payable $ 9,200
Accounts receivable 12,000
Cash 5,500
Owners Capital 40,000
Owners Drawings 10,000
Interest expense 3,000
Note payable, due 8/31/17 60,000
Supplies 1,000
Service revenue 39,000
Equipment 5,000
(a) What are total current assets? show working
(b) What are total current liabilities? Show working
The following accounts were included on ABC Inc., adjusted trial balance at December 31, 2014: 5 Marks
Accounts payable $ 9,200
Accounts receivable 12,000
Cash 5,500
Owners Capital 40,000
Owners Drawings 10,000
Interest expense 3,000
Note payable, due 8/31/17 60,000
Supplies 1,000
Service revenue 39,000
Equipment 5,000
(a) What are total current assets? show working
(b) What are total current liabilities? Show working
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