Please see attached pictures.How much is the total assets in the statement of financial position as of December 31,2022? Office salaries311,000Office supplies used70,800Prepaid expenses49.800Purchases2,424,180Purchase discounts27,200Purchase returns45,840Sales3,818,024Sales discounts50,000Sales returns35,480Bonds payable116,400Salaries payable27,621Sales salaries201,768Utilities expense31,560Utilities payable75,160Merchandise Inventory, December 31, 2022522,800Interest expense - mortgage23,212Gain from sale of equipment12,976How much is the total assets in the statement of financial position as of December 31,2022? Use the following information:ACCOUNTSAMOUNTSAccounts receivableP530,600Accumulated depreciation- Furniture & Fixture73,340Accumulated depreciation Office Equipment188,360Advertising expense126,600Allowance for bad debts42,600Cash510,200Depreciation expense - Furniture and fixture36,800Depreciation expense - Office Equipment94,180Bad debts expense115,000Freight- in41.960Freight - out32,160Furniture and fixtures282,680Interest expense - loans21,708Interest income34,800320,320LandMerchandise Inventory, January 1, 2022414,000821,000Mortgage payable232,200Notes receivableOffice equipment857,800311,000Office salaries70,800Office supplies used49,800Prepaid expenses2,424,180Purchases27,200Purchase discounts

Assets and liabilities are integral parts of the financial statements of an entity and show the…

Office salaries 311,000 Office supplies used 70,800 Prepaid expenses 49,800 Purchases 2,424,180 Purchase discounts 27,200 Purchase returns 45,840 Sales 3,818,024 Sales discounts 50,000 Sales returns 35,480 Bonds payable 116,400 Salaries payable 27,621 Sales salaries 201,768 Utilities expense 31,560 Utilities payable 75,160 Merchandise Inventory, December 31, 2022 522,800 Interest expense - mortgage 23,212 Gain from sale of equipment 12,976 How much is the total assets in the statement of financial position as of December 31, 2022?

Office salaries 311,000 Office supplies used 70,800 Prepaid expenses 49,800 Purchases 2,424,180 Purchase discounts 27,200 Purchase returns 45,840 Sales 3,818,024 Sales discounts 50,000 Sales returns 35,480 Bonds payable 116,400 Salaries payable 27,621 Sales salaries 201,768 Utilities expense 31,560 Utilities payable 75,160 Merchandise Inventory, December 31, 2022 522,800 Interest expense - mortgage 23,212 Gain from sale of equipment 12,976 How much is the total assets in the statement of financial position as of December 31, 2022?

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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