1. The following items were taken from the accounting records of Best Tea company. The balance sheet account are balances at 31/12/2020, Except the retained earnings balance at 1/1/2020:

   Net Income $17500

   Accounts Receivable $33,000

   Accounts Payable $70,000

   Prepaid Insurance $8,550

   Retained Earnings (beg) 18,310

   Dividend $4,000

   Notes Payable $90,000

   Advertising Expenses $28,200

   Common Stock $7,000

   Rent Expenses $19,000

   Additional Paid in capital $40,000

   Salaries Expense $52,000

   Salaries Payable $10,050

   Equipment $168,000

   Cash $74,500

   Supplies Expense $8,000

   Accumulated Depreciation $42,000

   Office Supplies $6,810

   What are the Total Current Assets?

1 points

QUESTION 2

1. What are the Total Current Liabilities?

1 points

QUESTION 3

1. What are the Total Non-Current Assets?

1 points

QUESTION 4

1. What are the Total Non-Current Liabilities?

1 points

QUESTION 5

1. What are the Total Liabilities and Shareholder's Equity?