The following items are taken from the financial statements of the Sunland Service for the year ending December 31, 2018: Accounts payable $ 18400 Accounts receivable 11000 Accumulated depreciation – equipment 28000 Advertising expense 20600 Cash 15000 Common stock 41400 Dividends 13800 Depreciation expense 11900 Insurance expense 3100 Note payable, due 6/30/19 71400 Prepaid insurance (12-month policy) 6200 Rent expense 17300 Retained earnings (1/1/18) 58100 Salaries and wages expense 31400 Service revenue 133000 Supplies 4100 Supplies expense 5900 Equipment 210000 What are total current assets at December 31, 2018? $42200 $32200 $26000 $36300
The following items are taken from the financial statements of the Sunland Service for the year ending December 31, 2018: Accounts payable $ 18400 Accounts receivable 11000 Accumulated depreciation – equipment 28000 Advertising expense 20600 Cash 15000 Common stock 41400 Dividends 13800 Depreciation expense 11900 Insurance expense 3100 Note payable, due 6/30/19 71400 Prepaid insurance (12-month policy) 6200 Rent expense 17300 Retained earnings (1/1/18) 58100 Salaries and wages expense 31400 Service revenue 133000 Supplies 4100 Supplies expense 5900 Equipment 210000 What are total current assets at December 31, 2018? $42200 $32200 $26000 $36300
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 24CE
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Question
The following items are taken from the financial statements of the Sunland Service for the year ending December 31, 2018:
| Accounts payable | $ 18400 |
| 11000 | |
| 28000 | |
| Advertising expense | 20600 |
| Cash | 15000 |
| Common stock | 41400 |
| Dividends | 13800 |
| Depreciation expense | 11900 |
| Insurance expense | 3100 |
| Note payable, due 6/30/19 | 71400 |
| Prepaid insurance (12-month policy) | 6200 |
| Rent expense | 17300 |
| 58100 | |
| Salaries and wages expense | 31400 |
| Service revenue | 133000 |
| Supplies | 4100 |
| Supplies expense | 5900 |
| Equipment | 210000 |
What are total current assets at December 31, 2018?
|
|
$42200 |
|
|
$32200 |
|
|
$26000 |
|
|
$36300 |
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