Question
The following items are taken from the financial statements of the Headland Service for the year ending December 31, 2020: Accounts payable $ 17800 Accounts
The following items are taken from the financial statements of the Headland Service for the year ending December 31, 2020:
| Accounts payable | $ 17800 |
| Accounts receivable | 11000 |
| Accumulated depreciation equipment | 28000 |
| Advertising expense | 21300 |
| Cash | 15300 |
| Owners capital (1/1/20) | 42800 |
| Owners drawings | 13800 |
| Depreciation expense | 11900 |
| Insurance expense | 3100 |
| Note payable, due 6/30/21 | 70100 |
| Prepaid insurance (12-month policy) | 6200 |
| Rent expense | 17000 |
| Salaries and wages expense | 32500 |
| Service revenue | 131700 |
| Supplies | 4000 |
| Supplies expense | 6000 |
| Equipment | 208200 |
What are total current assets at December 31, 2020?
The following items are taken from the financial statements of the Headland Service for the year ending December 31, 2020:
| Accounts payable | $ 17800 |
| Accounts receivable | 11000 |
| Accumulated depreciation equipment | 28000 |
| Advertising expense | 21300 |
| Cash | 15300 |
| Owners capital (1/1/20) | 42800 |
| Owners drawings | 13800 |
| Depreciation expense | 11900 |
| Insurance expense | 3100 |
| Note payable, due 6/30/21 | 70100 |
| Prepaid insurance (12-month policy) | 6200 |
| Rent expense | 17000 |
| Salaries and wages expense | 32500 |
| Service revenue | 131700 |
| Supplies | 4000 |
| Supplies expense | 6000 |
| Equipment | 208200 |
What are total current assets at December 31, 2020?
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An Introduction To Modern Financial Reporting Theory
Authors: Brian A Rutherford
1st Edition
9780761966074
