The following financial statements were prepared at the end of the month of May: TOPS IN TOPIARY - INCOME STATEMENT FOR the month of May Revenue $2,540 Expenses Rent Expense $500 Advertising Expense $500 Wages Expense $200 $1,200 Net Income $1,340 TOPS IN TOPIARY - STATEMENT OF OWNER'S EQUITY FOR the month of MAY Owner's Equity at May 1 SO plus: Investment 2.000 plus: Net Income 1,340 ess: Withdrawals 0 Owner's Equity at May 31 $3.340 TOPS IN TOPIARY - BALANCE SHEET AS OF MAY 31 JASSETS LIABILITES AND OWNER'S EQUITY Current Assets: Current Liabilities: Cash $1,380 Accounts Payable $300 Accounts Receivable $1,500 Advertising Payable $500 Prepaid Rent $ 500 Advances from Customers $200 Prepaid Advertising $ 500 Supplies $ 100 $3,980 Equipment $ 360 Owner's Equity $3,340 Total Assets $4,340 Total Liabilities & OE $4.340 During June the following transactions occurred: Paid the helper the $200 owed from works done May (the amount owed is in Accounts Payable). Completed the job for which the customer paid $200 in May. Tops in Topiary collected $1000 in cash once finished. Paid $500 for the rent of July. At the end of June notices that there are no supplies left. Makes a note to buy some in July. At the end of June notices that there are few flyers left (used for advertising) worth $100 and decides to order some for July. Before ordering, the printer (supplier of flyers) asks to be paid $500 of the amount owed for the flyers done in May. Tops in Topiary pays $500, In June collected in cash $3,000 for 3 jobs are done for a total of $4,200, the rest is owed in account by the customers. In June decided to start depreciating the equipment bought for $360 that is expected to last for 3 years. In June 23rd Edward Scissorhands withdrew some cash for personal reasons ($3,000). Prepare "T" Accounts in ACCRUAL Basis for the period ended on June 30th and then answer the question. At the end of the accounting period (June 30th, T account after AJE), what is the balance of Advances from Customers? O $0 O $100 None of the others alternatives are correct O $200 O $500 Prepare "T" Accounts in ACCRUAL Basis for the period ended on June 30th and then answer the question. At the end of the accounting period (June 30th, T account after AJE), what is the balance of Advertising Expense? $100 $400 None of the others alternatives are correct $500 $0 Prepare "T" Accounts in ACCRUAL Basis for the period ended on June 30th and then answer the questions. At the end of the accounting period (June 30th, T account after AJE), what is the balance of Supplies Expense? $50 $100 $0 None of the others alternatives are correct $33 Prepare "T" Accounts in ACCRUAL Basis for the period ended on June 30th and then answer the questions. At the end of the accounting period (June 30th, T account after AJE), what is the total of Non Current Assets? Between $200 and $299 More than $350 Less than $100 Between $100 and $199 Between $300 and $350