Hi there, this question uses the T-char and asks to calculate: - cost of supplies during this period - cost paid to purcahse new insurance this period - amount of interest payable that was paid during this period How do I calculate this?

Hi there, this question uses the T-char and asks to calculate: - cost of supplies during this period - cost paid to purcahse new insurance this period - amount of interest payable that was paid during this period How do I calculate this?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Hi there, this question uses the T-char and asks to calculate:

- cost of supplies during this period

- cost paid to purcahse new insurance this period

- amount of interest payable that was paid during this period

How do I calculate this?

Using the T accounts below determine:
Supplies
3,500 (a)
8,100
2,900 Bal.
Prepaid Insurance
16,800
(b) 21,200
19,300
Bal.
Interest Payable
5,100
(c)
16,100
Bal.
5,600

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