ACCOUNTS RECEIVABLE – 300,000 NOTES RECEIVABLE (2 YEARS) – 200,000 NOTES RECEIVABLE (TRADE) – 300,000 NOTES RECEIVABLE – 400,000 ACCOUNTS PAYABLE – 600,000 OFFICE EQUIPMENT – 250,0000 NOTES PAYABLE (3 YEARS) – 300,000 BONDS PAYABLE (MATURING IN 6 MOS.) – 300,000
ACCOUNTS RECEIVABLE – 300,000 NOTES RECEIVABLE (2 YEARS) – 200,000 NOTES RECEIVABLE (TRADE) – 300,000 NOTES RECEIVABLE – 400,000 ACCOUNTS PAYABLE – 600,000 OFFICE EQUIPMENT – 250,0000 NOTES PAYABLE (3 YEARS) – 300,000 BONDS PAYABLE (MATURING IN 6 MOS.) – 300,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
CASH – 500,000
NOTES RECEIVABLE (2 YEARS) – 200,000
NOTES RECEIVABLE (TRADE) – 300,000
NOTES RECEIVABLE – 400,000
ACCOUNTS PAYABLE – 600,000
OFFICE EQUIPMENT – 250,0000
NOTES PAYABLE (3 YEARS) – 300,000
BONDS PAYABLE (MATURING IN 6 MOS.) – 300,000
MORTGAGE PAYABLE – 400,000
OWNERS EQUITY, (BEGINNING BALANCE) – 600,000
OWNER DRAWING/WITHDRAWAL – 200,000
NET LOSS – (300,000)
What is the total current assets?
1,200,000
1,400,000
1,700,000
1,500,000
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