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The March 31, 2020, adjusted trial balance for Amusement Park Repair is shown below with accounts in alphabetical order. Debit Credit Accounts payable $ 32,000
The March 31, 2020, adjusted trial balance for Amusement Park Repair is shown below with accounts in alphabetical order. Debit Credit Accounts payable $ 32,000 Accounts receivable $ 49,000 Accumulated depreciation, equipment 10,000 Accumulated depreciation, truck 22,000 Cash 15,400 Depreciation expense 4,800 Equipment 20,000 Franchise 22,000 Gas and oil expense 8,500 Interest expense 550 Interest payable 850 Land not currently used in business operations 158,000 Long-term notes payable1 37,000 Notes payable, due February 1, 2021 8,000 Notes receivable2 8,000 Intangible asset 8,000 Prepaid rent 15,000 Rent expense 52,000 Repair revenue 276,000 Repair supplies 14,100 Repair supplies expense 30,000 Truck 27,000 Unearned repair revenue 13,600 Vic Sopik, capital 82,900 Vic Sopik, withdrawals 50,000 Totals $482,350 $482, 350 1$6,000 of the long-term note payable is due during the year ended March 31, 2021. 2$3,000 of the notes receivable will be collected by March 31, 2021. Calculate each of the following: Saved Chapter 4,5 & 6 - Monday, December 13th, 20... 6 LAP Repair revenue Repair supplies Repair supplies expense Truck Unearned repair revenue Vic Sopik, capital Vic Sopik, withdrawals Totals 276,000 14,100 30,000 27,000 13,600 82,900 50,000 $482,350 $482,350 1$6,000 of the long-term note payable is due during the year ended March 31, 2021. 2$3,000 of the notes receivable will be collected by March 31, 2021. -8 Calculate each of the following: a. Current assets b. Property, plant, and equipment c. Intangible assets d. Non-current investments e. Total assets w f. Current liabilities g. Non-current liabilities h. Total liabilities i. Total liabilities and equity
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