Salaries and wages payable $1,700 Notes payable (long-term) $1,700 Salaries and wages expense 51,800 Cash 13,400 Utilities expense 22,500 Accounts receivable 9,500 Equipment 29,100 Accumulated depreciation-equipment 6,300 Accounts payable 4,500 Owner's drawings 3,800 Service revenue 61,100 Depreciation expense 4,500

Salaries and wages payable $1,700 Notes payable (long-term) $1,700 Salaries and wages expense 51,800 Cash 13,400 Utilities expense 22,500 Accounts receivable 9,500 Equipment 29,100 Accumulated depreciation-equipment 6,300 Accounts payable 4,500 Owner's drawings 3,800 Service revenue 61,100 Depreciation expense 4,500

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

Salaries and wages payable
$1,700
Notes payable (long-term)
$1,700
Salaries and wages expense
51,800
Cash
13,400
Utilities expense
22,500
Accounts receivable
9,500
Equipment
29,100
Accumulated depreciation-equipment
6,300
Accounts payable
4,500
Owner's drawings
3,800
Service revenue
61,100
Depreciation expense
4,500
Rent revenue
8,700
Owner's Capital (beginning of the year)
50,600
Required Income statement

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