The following are the selected ledger balances taken from the books of ABC Company for the year 2021: Accrued Rent Rent Expense Income 180,000 120,000 Accounts 126,000 Cash 112,000 Receivable Allowance for Bad 12,600 Prepaid Advertising 12,000 Debts Service Income 500,000 Salaries Expense 115,000 Office Equipment 430,000 Utilities Expense 49,000 Accumulated 75,000 Unused Supplies 18,000 Depreciation Representation 60,000 Owner, Capital 463,300 Expense Unearned Service 22,000 Accounts Payable 240,000 Income Accrued Interest Owner, Drawing 14,000 10,700 Expense Compute for the total assets of ABC Company.

The following are the selected ledger balances taken from the books of ABC Company for the year 2021: Accrued Rent Rent Expense Income 180,000 120,000 Accounts 126,000 Cash 112,000 Receivable Allowance for Bad 12,600 Prepaid Advertising 12,000 Debts Service Income 500,000 Salaries Expense 115,000 Office Equipment 430,000 Utilities Expense 49,000 Accumulated 75,000 Unused Supplies 18,000 Depreciation Representation 60,000 Owner, Capital 463,300 Expense Unearned Service 22,000 Accounts Payable 240,000 Income Accrued Interest Owner, Drawing 14,000 10,700 Expense Compute for the total assets of ABC Company.

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

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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