Balance Account Title Debit Credit Cash 21,400 Accounts Receivable 16,500 Office Supplies 9,900 Prepaid Rent 31,700 Furniture 18,100 Building 3 bo Land 19,800 Accounts Payable 21,400 Utilities Payable 23,100 Unearned Revenue 11,500 Notes Payable 24,700 Bright, Capital 53,100 Bright, Withdrawals 8,200 Service Revenue 31,300 Rent Expense 21,400 Salaries Expense 8,200 Utilities Expense 6,600 Total 165,100 165,100

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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Need help calculating the liabilities
hp
Proprietorship - Google Chrome
com/activity/4/3/1
Balance
Account Title
Debit
Credit
Cash
21,400
Accounts Receivable
16,500
Office Supplies
9,900
Prepaid Rent
31,700
Furniture
18,100
Building
3. bo
Land
19,800
Accounts Payable
21,400
Utilities Payable
23,100
Unearned Revenue
11,500
Notes Payable
24,700
Bright, Capital
53,100
Bright, Withdrawals
8,200
Service Revenue
31,300
Rent Expense
21,400
Salaries Expense
8,200
Utilities Expense
6,600
Total
165,100
165,100
Transcribed Image Text:hp Proprietorship - Google Chrome com/activity/4/3/1 Balance Account Title Debit Credit Cash 21,400 Accounts Receivable 16,500 Office Supplies 9,900 Prepaid Rent 31,700 Furniture 18,100 Building 3. bo Land 19,800 Accounts Payable 21,400 Utilities Payable 23,100 Unearned Revenue 11,500 Notes Payable 24,700 Bright, Capital 53,100 Bright, Withdrawals 8,200 Service Revenue 31,300 Rent Expense 21,400 Salaries Expense 8,200 Utilities Expense 6,600 Total 165,100 165,100
Expert Solution
Step 1

Liabilities includes Legal financial debt or obligation arises during the course of business operations are known with the name of liabilities. It includes creditor, bills payable, bank loan, bank overdraft, etc

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