Please refer to the following information to answer question 12 and 13:Misra Company compiled the following financial information as of December 31, 2021:Revenues$170,000Owner's Capital (1/1/21)EquipmentExpenses70,00040,000125,000Cash45,000Owner's Drawings10,000SuppliesAccounts payable5,00020,000Accounts receivable35,00012. Misra's assets on December 31, 2021 areА. $90,000.В. S125,000.C. $180,000.D. $245,000.13. Misra's owner's equity on December 31, 2021 isA. $45,000.B. $70,000.C. $105,000.D. $125,000.

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Description: Please refer to the following information to answer question 12 and 13:Misra Company compiled the following financial information as of December 31, 2021:Revenues$170,000Owner's Capital (1/1/21)EquipmentExpenses70,00040,000125,000Cash45,000Owner's D

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Please refer to the following information to answer question 12 and 13: Misra Company compiled the following financial information as of December 31, 2021: Revenues $170,000 Owner's Capital (1/1/21) 70,000 Equipment Expenses 40,000 125,000 Cash 45,000 Owner's Drawings 10,000 Supplies 5,000 Accounts payable 20,000 Accounts receivable 35,000 12. Misra's assets on December 31, 2021 are A. $90,000. В. S125,000. C. $180,000. D. $245,000. 13. Misra's owner's equity on December 31, 2021 is A. $45,000. В. $70,000. C. $105,000. D. $125,000.

Please refer to the following information to answer question 12 and 13: Misra Company compiled the following financial information as of December 31, 2021: Revenues $170,000 Owner's Capital (1/1/21) 70,000 Equipment Expenses 40,000 125,000 Cash 45,000 Owner's Drawings 10,000 Supplies 5,000 Accounts payable 20,000 Accounts receivable 35,000 12. Misra's assets on December 31, 2021 are A. $90,000. В. S125,000. C. $180,000. D. $245,000. 13. Misra's owner's equity on December 31, 2021 is A. $45,000. В. $70,000. C. $105,000. D. $125,000.

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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