Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is the adjustment Trial balance of a business at the end of its fiscal year: ACCOUNTS DR CR Cash $200,000 A/R 30,000 CGS

image text in transcribed
image text in transcribed
The following is the adjustment Trial balance of a business at the end of its fiscal year: ACCOUNTS DR CR Cash $200,000 A/R 30,000 CGS 13,000 Equipment 30,000 Inventory 20,000 Operating Exp 10,000 Sales Returns 1,000 Dividends 20,000 Furniture 20,000 A/P 10,000 Beginning RE 44,000 Unearned Rev 15,000 Capital 59,000 Sales Rev 156,000 Long term N/P 50,000 Total ACC-DEP 10,000 Total $344,000344,000 a. How much is total Current Assets? Oa.270,000 Ob.240,000 Oc 230,000 b. How much is total Assets? Oa 276,000 Ob.290,000 OC 266,000 c. How much is total Current Liabilities? Da 20,000 Ob.70,000 OC 60,000 search BOB Sales Rev 156,000 Long term N/P 50,000 Total ACC-DEP 10,000 Total $344,000344,000 a. How much is total Current Assets? a.270,000 Ob.240,000 OC 230,000 Od 250,000 . How much is total Assets? a.276,000 Ob.290,000 OC 266,000 Od 300,000 . How much is total Current Liabilities? Da.20,000 Ob.70,000 Oc 60,000 Od 25,000 1. How much is total Liabilities? Da.75,000 Ob.45,000 Oc. 60,000 Od.70,000 How much is Income before tax? a.132,000 Ob.136,000 Oc 140,000 Od.10,00

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

Step: 3

blur-text-image

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

Investments Unlimited A Novel About DevOps Security Audit Compliance And Thriving In The Digital Age

Authors: Helen Beal, Bill Bensing, Jason Cox, Michael Edenzon, John Willis

1st Edition

1950508536, 978-1950508532

More Books

Students also viewed these Accounting questions

Question

Complexity of linear search is O ( n ) . Your answer: True False

Answered: 1 week ago