The following items are taken from the financial statements of the Ivanhoe Service for the year ending December 31, 2021: What are total current assets at December 31, 2021? [ $ 41500; $ 25800; $ 31600; $ 35600 ] The following items are taken from the financial statements of the Al-Salam Co. for the year ending December 31, 2014: What are total current assets at December 31, 2014? The following items are taken from the financial statements of the Al-Salam Co. forthe year ending December 31, 2014:Accounts payableAccounts receivableAccumulated depreciation - equipmentAdvertising expenseCashOwner's capital (1/1/14)Owner's drawingsDepreciation expenseInsurance expenseNote payable, due 6/30/15Prepaid insurance (12-month policy)Rent expenseSalaries and wages expenseService revenueSuppliesSupplies expenseEquipmentWhat are total current assets at December 31, 2014?$ 18,00011,00028,00021,00015,000102,00014,00012,0003,00070,0006,00017,00032,000133,0004,0006,000210,000

The balance sheet represents the financial position of the business with assets, liabilities and…

Owner's capital (1/1/14) Owner's drawings Depreciation expense Insurance expense Note payable, due 6/30/15 Prepaid insurance (12-month policy) Rent expense Salaries and wages expense Service revenue Supplies Supplies expense Equipment What are total current assets at December 31, 2014? 5,000 102,000 14,000 12,000 3,000 70,000 6,000 17,000 32,000 133,000 4,000 6,000 210,000

Owner's capital (1/1/14) Owner's drawings Depreciation expense Insurance expense Note payable, due 6/30/15 Prepaid insurance (12-month policy) Rent expense Salaries and wages expense Service revenue Supplies Supplies expense Equipment What are total current assets at December 31, 2014? 5,000 102,000 14,000 12,000 3,000 70,000 6,000 17,000 32,000 133,000 4,000 6,000 210,000

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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