Ackerman Limousine Service Balance Sheet December31, 2020 Assets Cash P 16,000 Accounts Receivable 2,500 Automobile Supplies 1,200 Limousines 38,000 Total Asset P 57,700 Liabilities and Capital Accounts Payable P 3,200 Notes Payable 30,350 Total Liabilities P 33,550 Mikasa Ackerman, Capital 24,150 Total Liabilities and Capital P 57,700

Ackerman Limousine Service Balance Sheet December31, 2020 Assets Cash P 16,000 Accounts Receivable 2,500 Automobile Supplies 1,200 Limousines 38,000 Total Asset P 57,700 Liabilities and Capital Accounts Payable P 3,200 Notes Payable 30,350 Total Liabilities P 33,550 Mikasa Ackerman, Capital 24,150 Total Liabilities and Capital P 57,700

Name: Questions:1. What is the total equity of Ackerman Limousine Service?2.
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Description: Questions:1. What is the total equity of Ackerman Limousine Service?2. What us the total amount of Mikasa Ackerman's claims against the total assets of the business? Ackerman Limousine ServiceBalance SheetDecember31, 2020AssetsCashP 16,000Accounts Re

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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