OMR Accounts OMR Cash 60,000 Payable 65,000 Salaries 30,000 Payable Prepaid Insurance 10,000 90,000 Bond 50,000 Accounts Receivable Payable Shared 70,000 Capital 120,000 Inventory Retained 75,000 Long term investment 250,000 Earnings 90,000 Land 100,000 Building

OMR Accounts OMR Cash 60,000 Payable 65,000 Salaries 30,000 Payable Prepaid Insurance 10,000 90,000 Bond 50,000 Accounts Receivable Payable Shared 70,000 Capital 120,000 Inventory Retained 75,000 Long term investment 250,000 Earnings 90,000 Land 100,000 Building

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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Question

Items
OMR Accounts
OMR
Cash
60,000 Payable 65,000
Prepaid
10,000 Salaries 30,000
Payable
Insurance
Bond 50,000
Payable
90,000
Accounts
Receivable
120,000
Shared 70,000
Inventory
Capital
Retained 75,000
Long term
investment
250,000 Earnings
90,000
Land
100,000
Building
20,000 Accumulated
Depreciation-
Building
Trademark
70,000
????
Total
????? Total Assets
Liabilities
and OE
If this information was used to prepare a
statement of financial position, Total
:Liabilities should be

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