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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

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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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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