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eivable Super Cuts Salon Balance Sheet December 31, 2025 $ 26,000 20,000 Accounts payable Salaries and wages payable

eivable Super Cuts Salon Balance Sheet December 31, 2025 $ 26,000 20,000 Accounts payable Salaries and wages payable

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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Cash Accounts receivable Inventory Supplies Prepaid insurance Land Buildings $239,000 Less: Accumulated depreciation (100,000) Trademark Total assets (a) (b) Total current assets Total property, plant and equipment $ Super Cuts Salon Balance Sheet December 31, 2025 $ 26,000 $ 20,000 10,000 1,000 2,000 25,000 139,000 2,000 Compute the company's (a) total current assets and (b) total property, plant and equipment. $225,000 Accounts payable Salaries and wages payable Note payable (due 2028) Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 3,000 2,000 170,000 175,000 35,000 15,000 50,000 $225,000
Transcribed Image Text:Cash Accounts receivable Inventory Supplies Prepaid insurance Land Buildings $239,000 Less: Accumulated depreciation (100,000) Trademark Total assets (a) (b) Total current assets Total property, plant and equipment $ Super Cuts Salon Balance Sheet December 31, 2025 $ 26,000 $ 20,000 10,000 1,000 2,000 25,000 139,000 2,000 Compute the company's (a) total current assets and (b) total property, plant and equipment. $225,000 Accounts payable Salaries and wages payable Note payable (due 2028) Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 3,000 2,000 170,000 175,000 35,000 15,000 50,000 $225,000
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