Below is Monday Company's adjusted trial balance for the year ended December 31, 2021: Credit Account Title Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Taxes Payable interest Payable (due in <1 year) Notes Payable (due in 3 years) Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation Expense Multiple Choice $33,500 $11,500 Debit $24.700 11,500 22,000 1,200 70,000 2,000 7,500 3,000 18,000 135,200 Other Expenses Totals What is the amount of the company's total current assets? 6,000 12,000 3,100 1,000 7,000 50,000 21,100 35,000 135,200

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question

10

 

Below is Monday Company's adjusted trial balance for the year ended December 31, 2021:
Account Title
Cash
Accounts Receivable
Supplies
Equipment
Accumulated Depreciation
Accounts Payable
Taxes Payable
Interest Payable (due in < 1 year)
Notes Payable (due in 3 years)
Common Stock
Retained Earnings
Dividends
Service Revenue
Salaries Expense
Depreciation Expense
Other Expenses
Totals
Multiple Choice
$33,500
O $11,500
O $34,700
Debit
$104,700
11,500
22,000
1,200
70,000
2,000
Credit
7,500
3,000
18,000
135,200
What is the amount of the company's total current assets?
6,000
12,000
3,100
1,000
7,000
50,000
21,100
35,000
135,200
Transcribed Image Text:Below is Monday Company's adjusted trial balance for the year ended December 31, 2021: Account Title Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Taxes Payable Interest Payable (due in < 1 year) Notes Payable (due in 3 years) Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation Expense Other Expenses Totals Multiple Choice $33,500 O $11,500 O $34,700 Debit $104,700 11,500 22,000 1,200 70,000 2,000 Credit 7,500 3,000 18,000 135,200 What is the amount of the company's total current assets? 6,000 12,000 3,100 1,000 7,000 50,000 21,100 35,000 135,200
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Financial Statements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education