Cash 18,000 Accounts Receivable 10,000 Office Supplies 200 Prepaid Rent 12,000 Furniture 21,000

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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Trying to add up liabilities - getting incorrect answers every time
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
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
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Liabilities are the obligation of the company that has to be sacrificed by using the assets of the company. 

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