AccountsDebit Credit Cash$11,400 Accounts Receivable 144,000 Prepaid Rent 5,400 Supplies 27,000 Equipment 340,000 Accumulated Depreciation $129,000 Accounts Payable 11,400 Salaries Payable 10,400 Interest Payable 4,400 Notes Payable (due in two years) 34,000 Common Stock 240,000 Retained Earnings 54,000 Service Revenue 440,000 Salaries Expense 340,000 Rent Expense 17,000 Depreciation Expense 34,000 Interest Expense 4,400 Totals$923,200 $923,200 What is net income?Choose one of answer choices30,00044,60055,000435,000 What is the amount of total assets?Choose one of answer choices398,800598,000613,000493,000 What is the amount of total liabilities?Choose one of answer choices40,00063,00028,00060,200 What is the amount of total stockholder's equity?Choose one of answer choices95,000463,000300,000338,600

Name: AccountsDebit Credit Cash$11,400 Accounts Receivable 144,000
Uploaded: 2024-03-04T10:43:15.000Z
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Description: AccountsDebit Credit Cash$11,400 Accounts Receivable 144,000 Prepaid Rent 5,400 Supplies 27,000 Equipment 340,000 Accumulated Depreciation $129,000 Accounts Payable 11,400 Salaries Payable 10,400 Interest Payabl

Financial Statements - Financial Statement includes Income Statement, Statement of Retained Earnings…

Answered: Accounts Debit Credit Cash $…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter7: Receivables And Investments

Section: Chapter Questions

Problem 7.17E

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Accounts	Debit		Credit
Cash	$	11,400
Accounts Receivable		144,000
Prepaid Rent		5,400
Supplies		27,000
Equipment		340,000
Accumulated Depreciation				$	129,000
Accounts Payable					11,400
Salaries Payable					10,400
Interest Payable					4,400
Notes Payable (due in two years)					34,000
Common Stock					240,000
Retained Earnings					54,000
Service Revenue					440,000
Salaries Expense		340,000
Rent Expense		17,000
Depreciation Expense		34,000
Interest Expense		4,400
Totals	$	923,200		$	923,200

What is net income?

Choose one of answer choices

30,000

44,600

55,000

435,000

What is the amount of total assets?

Choose one of answer choices

398,800

598,000

613,000

493,000

What is the amount of total liabilities?

Choose one of answer choices

40,000

63,000

28,000

60,200

What is the amount of total stockholder's equity?

Choose one of answer choices

95,000

463,000

300,000

338,600

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