Balance Sheet as on 31 July, 2015 Particulars Amount Particulars Amount Capital 39960 Non- Current assets- Non Current Liabilities- Office Equipment 84000 Long Term Notes Payable Less: Accumulated 52000 (20000) Dep. 64000 Current Liabilities- Current Assets- Accounts payable 10000 Cash 34000 Interest Payable Salaries Payable 1000 Accounts Receivable 22000 7000 Office Supplies 2000 Unearned Consulting 15000 Prepaid Insurance 2960 Fees 129960 129960
Balance Sheet as on 31 July, 2015 Particulars Amount Particulars Amount Capital 39960 Non- Current assets- Non Current Liabilities- Office Equipment 84000 Long Term Notes Payable Less: Accumulated 52000 (20000) Dep. 64000 Current Liabilities- Current Assets- Accounts payable 10000 Cash 34000 Interest Payable Salaries Payable 1000 Accounts Receivable 22000 7000 Office Supplies 2000 Unearned Consulting 15000 Prepaid Insurance 2960 Fees 129960 129960
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 6E: Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown...
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Please explain why the total is 129960?
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