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Business
Accounting
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.

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.

FINANCIAL ACCOUNTING
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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Please answer the question correctly with solution. Thank you. they are both in the same question.
The following are the selected ledger balances taken from the books of ABC Company for the year 2021: Rent Expense P 120,000 Accrued Rent Income P 180,000 126,000 Cash 112,000 Accounts Receivable Allowance for Bad 12,600 Prepaid Advertising 12,000 Debts 500,000 Salaries Expense 115,000 Service Income 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
Transcribed Image Text:The following are the selected ledger balances taken from the books of ABC Company for the year 2021: Rent Expense P 120,000 Accrued Rent Income P 180,000 126,000 Cash 112,000 Accounts Receivable Allowance for Bad 12,600 Prepaid Advertising 12,000 Debts 500,000 Salaries Expense 115,000 Service Income 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
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.
Transcribed Image Text: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.
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