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Accounting
Owner's capital (1/1/14) Owner's drawings Depreciation expense Insurance expense Note payable, due 6/30/15 Prepaid insurance (12-month policy) Rent expense Salaries and wages expense Service revenue Supplies Supplies expense Equipment What are total current assets at December 31, 2014? 5,000 102,000 14,000 12,000 3,000 70,000 6,000 17,000 32,000 133,000 4,000 6,000 210,000

Owner's capital (1/1/14) Owner's drawings Depreciation expense Insurance expense Note payable, due 6/30/15 Prepaid insurance (12-month policy) Rent expense Salaries and wages expense Service revenue Supplies Supplies expense Equipment What are total current assets at December 31, 2014? 5,000 102,000 14,000 12,000 3,000 70,000 6,000 17,000 32,000 133,000 4,000 6,000 210,000

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....
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The following items are taken from the financial statements of the Ivanhoe Service for the year ending December 31, 2021: What are total current assets at December 31, 2021? [ $ 41500; $ 25800; $ 31600; $ 35600 ] The following items are taken from the financial statements of the Al-Salam Co. for the year ending December 31, 2014: What are total current assets at December 31, 2014?

 
The following items are taken from the financial statements of the Al-Salam Co. for the year ending December 31, 2014: Accounts payable Accounts receivable Accumulated depreciation - equipment Advertising expense Cash Owner's capital (1/1/14) Owner's drawings Depreciation expense Insurance expense Note payable, due 6/30/15 Prepaid insurance (12-month policy) Rent expense Salaries and wages expense Service revenue Supplies Supplies expense Equipment What are total current assets at December 31, 2014? $ 18,000 11,000 28,000 21,000 15,000 102,000 14,000 12,000 3,000 70,000 6,000 17,000 32,000 133,000 4,000 6,000 210,000
Transcribed Image Text:The following items are taken from the financial statements of the Al-Salam Co. for the year ending December 31, 2014: Accounts payable Accounts receivable Accumulated depreciation - equipment Advertising expense Cash Owner's capital (1/1/14) Owner's drawings Depreciation expense Insurance expense Note payable, due 6/30/15 Prepaid insurance (12-month policy) Rent expense Salaries and wages expense Service revenue Supplies Supplies expense Equipment What are total current assets at December 31, 2014? $ 18,000 11,000 28,000 21,000 15,000 102,000 14,000 12,000 3,000 70,000 6,000 17,000 32,000 133,000 4,000 6,000 210,000
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