Barney Technologies - As the new accountant for Barney Technologies, you notice that their some information has not been included in their account balances. Answer the following questions based on the information below.Barney TechnologiesBalance Sheet as at 30 June 2021 What is the Total current assets amount is:Cash18,000 Accounts payable4,500Office supplies1,500 Merchandise inventory12,000Accounts receivable3,000 Bank loan27,000Property and equipment75,000 Owners equity78,000 The following information has not been incorporated to the accounts of Barney at the end of the period. 1. On the 30 June, Barney withdrew $1,000 from the business.2. Depreciation for the year of $7,500 has not been included.3. Although the invoice has not arrived, utilities expense for the last month is expected to be $300. What are the Total current assets amount and Total Liabilities amount?

Name: Barney Technologies - As the new accountant for Barney Technologies, y
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Description: Barney Technologies - As the new accountant for Barney Technologies, you notice that their some information has not been included in their account balances. Answer the following questions based on the information below.Barney TechnologiesBalance Shee

Current assets are the short-term assets of the business which have high liquidity and will be…

Answered: Barney Technologies - As the new…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2PA: To demonstrate the difference between cash account activity and accrual basis profits (net income),...

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Barney Technologies - As the new accountant for Barney Technologies, you notice that their some information has not been included in their account balances. Answer the following questions based on the information below.

Barney Technologies

Balance Sheet as at 30 June 2021

What is the Total current assets amount is:

Cash	18,000	Accounts payable	4,500
Office supplies	1,500	Merchandise inventory	12,000
Accounts receivable	3,000	Bank loan	27,000
Property and equipment	75,000	Owners equity	78,000

The following information has not been incorporated to the accounts of Barney at the end of the period.

1. On the 30 June, Barney withdrew $1,000 from the business.

2. Depreciation for the year of $7,500 has not been included.

3. Although the invoice has not arrived, utilities expense for the last month is expected to be $300.

What are the Total current assets amount and Total Liabilities amount?

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