QUESTION 2 Sample Café had the following balance sheet on January 31st. Use this to answer questions 2-6. It is reproduced at the top of each of these questions for your convenience. Cash Asset Account Accounts Receivable Inventory Furniture & Equipment Accumulated Depreciation Deposit Total Assets Value $19,208 $1,200 $2,900 $6,500 $108 $2,500 $32,200 Liability/Equity Account Accounts Payable Long-Term Liabilities. Total Liabilities Paid-in Capital Retained Earnings Total Liabilities & Equity Answer How much do customers owe Sample Café? 1200 Value $600 $20,000 $20,600 $11,500 $100 $32,200

QUESTION 2 Sample Café had the following balance sheet on January 31st. Use this to answer questions 2-6. It is reproduced at the top of each of these questions for your convenience. Cash Asset Account Accounts Receivable Inventory Furniture & Equipment Accumulated Depreciation Deposit Total Assets Value $19,208 $1,200 $2,900 $6,500 $108 $2,500 $32,200 Liability/Equity Account Accounts Payable Long-Term Liabilities. Total Liabilities Paid-in Capital Retained Earnings Total Liabilities & Equity Answer How much do customers owe Sample Café? 1200 Value $600 $20,000 $20,600 $11,500 $100 $32,200

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 2
Sample Café had the following balance sheet on January 31st. Use this to answer questions 2-6. It is reproduced at the top of each of these questions for your convenience.
Cash
Asset Account
Accounts Receivable
Inventory
Furniture & Equipment
Deposit
Value
Total Assets
$19,208
$1,200
$2,900
Accumulated Depreciation $108
$6,500
$2,500
$32,200
Liability/Equity Account
Accounts Payable
Long-Term Liabilities
Total Liabilities
Paid-in Capital
Retained Earnings
Total Liabilities & Equity
How much do customers owe Sample Café?
Answer
1200
Value
$600
$20,000
$20,600
$11,500
$100
$32,200
4

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