Required information [The following information applies to the questions displayed below.] Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $76,000 2) borrowed $43,000 from its bank 3) provided consulting services for $74,000 4) paid back $33,000 of the bank loan 5) paid rent expense for $18,000 6) purchased equipment costing $30,000 7) paid $4,800 dividends to stockholders 8) paid employees' salaries, $39,000 What is Yowell's ending notes payable balance?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Part 2 of 3
What 'îs Yowell's ending notes payable balance?
Multiple Choice
$0
$43,000
$10,000
$33,000
()
Transcribed Image Text:Part 2 of 3 What 'îs Yowell's ending notes payable balance? Multiple Choice $0 $43,000 $10,000 $33,000 ()
Required information
(The following information applies to the questions displayed below.]
Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash
transactions:
1) issued stock for $76,000
2) borrowed $43,000 from its bank
3) provided consulting services for $74,000
4) paid back $33,000 of the bank loan
5) paid rent expense for $18,000
6) purchased equipment costing $30,000
7) paid $4,800 dividends to stockholders
8) paid employees' salaries, $39,000
What is Yowell's ending notes payable balance?
Multiple Choice
Transcribed Image Text:Required information (The following information applies to the questions displayed below.] Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $76,000 2) borrowed $43,000 from its bank 3) provided consulting services for $74,000 4) paid back $33,000 of the bank loan 5) paid rent expense for $18,000 6) purchased equipment costing $30,000 7) paid $4,800 dividends to stockholders 8) paid employees' salaries, $39,000 What is Yowell's ending notes payable balance? Multiple Choice
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