Cash on hand and in banks- Accounts receivable -- Merchandise inventory - - 50,000 - 350,000 -1,500,000 --30,000 Office supplies and materials Prepaid rent - warehouse ad store outlet - 120,000 Office equipment --- ---180,000 -- 680,000 Delivery vehicle- Accounts payable - Short-term notes payable - Accrued expenses Taxes payable - --320,000 80,000 - 30,000 - 10,000 500.000 Bank loan
Cash on hand and in banks- Accounts receivable -- Merchandise inventory - - 50,000 - 350,000 -1,500,000 --30,000 Office supplies and materials Prepaid rent - warehouse ad store outlet - 120,000 Office equipment --- ---180,000 -- 680,000 Delivery vehicle- Accounts payable - Short-term notes payable - Accrued expenses Taxes payable - --320,000 80,000 - 30,000 - 10,000 500.000 Bank loan
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
15 )
![-- 50,000
Cash on hand and in banks
Accounts receivable -
Merchandise inventory -
- 350,000
-1,500,000
Office supplies and materials
---30,000
Prepaid rent - warehouse ad store outlet - 120,000
Office equipment --
---180,000
Delivery vehicle ---
-- 680,000
Accounts payable -
--320,000
Short-term notes payable
-- 80,000
Accrued expenses-
Taxes payable -
Bank loan ---
Common stock
--1,000,000
-970,000
Retained earnings
Sales --
Cost of sales
---5,000,000
- 3,000,000
--500,000
Selling expenses -
Administrative expenses
- 250,000
-- 20,000
Depreciation --
Using the above account balances, answer the questions below:
How much is the total current assets?
- - 30,000
- 10,000
-500,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F74245fe7-a9e8-4f7b-8683-a0b90d6797a4%2F28741b5e-e54a-4225-8c5b-416ba508c89f%2Flkti7rh_processed.png&w=3840&q=75)
Transcribed Image Text:-- 50,000
Cash on hand and in banks
Accounts receivable -
Merchandise inventory -
- 350,000
-1,500,000
Office supplies and materials
---30,000
Prepaid rent - warehouse ad store outlet - 120,000
Office equipment --
---180,000
Delivery vehicle ---
-- 680,000
Accounts payable -
--320,000
Short-term notes payable
-- 80,000
Accrued expenses-
Taxes payable -
Bank loan ---
Common stock
--1,000,000
-970,000
Retained earnings
Sales --
Cost of sales
---5,000,000
- 3,000,000
--500,000
Selling expenses -
Administrative expenses
- 250,000
-- 20,000
Depreciation --
Using the above account balances, answer the questions below:
How much is the total current assets?
- - 30,000
- 10,000
-500,000
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