Cash 18,000 Accounts Receivable 10,000 Office Supplies 200 Prepaid Rent 12,000 Furniture 21,000
Cash 18,000 Accounts Receivable 10,000 Office Supplies 200 Prepaid Rent 12,000 Furniture 21,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
Trying to add up liabilities - getting incorrect answers every time

Transcribed Image Text:Average: 915 Count: 14 Sum: 915
hp
ole Proprietorship - Google Chrome
ng.com/activity/7/3/1
Cash
18,000
Accounts Receivable
10,000
Office Supplies
200
Prepaid Rent
12,000
Furniture
21,000
Accumulated Depreciation--Furniture
7,200
Accounts Payable
2,400
Salaries Payable
600
Interest Payable
300
Unearned Revenue
6,000
Notes Payable
8,400
Bright, Capital
66,300
Bright, Withdrawals
30,600
Service Revenue
12,000
Depreciation Expense-Furniture
2,400
Interest Expense
300
Rent Expense
3,600
Salaries Expense
4,200
Supplies Expense
TO0042645 CAREY MICHA INCOMING
00043013 PETTIGREW KINCOMING
900
158
D_OP_WES WOODWARI
D OP_WES WOODWARI
B05
Expert Solution
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Step 1
Liabilities are the obligation of the company that has to be sacrificed by using the assets of the company.
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Solved in 2 steps with 1 images
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