Shown below in alphabetical order are the accounts for Reduce Reuse Remodel, Inc. at the end of the company’s fiscal year, June 30, 2021.  The amounts are rounded to the nearest $1,000. Accounts payable $    30 Notes payable (due in 5 years) $100   Accounts receivable 18 Prepaid insurance 8 Accumulated depreciation 160 Remodeling revenue 650 Cash 15 Rent expense 63 Common stock 150 Retained earnings, 7/1/20 79 Depreciation expense 40 Salaries expense 150 Dividends 25 Salaries payable 17 Equipment 500 Supplies 31 Income taxes payable 3 Supplies expense 275 Miscellaneous expense 84 Unearned revenue 20 Calculate Total Assets as of 6/30/21

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Shown below in alphabetical order are the accounts for Reduce Reuse Remodel, Inc. at the end of the company’s fiscal year, June 30, 2021.  The amounts are rounded to the nearest $1,000.

Accounts payable

$    30

Notes payable (due in 5 years)

$100  

Accounts receivable

18

Prepaid insurance

8

Accumulated depreciation

160

Remodeling revenue

650

Cash

15

Rent expense

63

Common stock

150

Retained earnings, 7/1/20

79

Depreciation expense

40

Salaries expense

150

Dividends

25

Salaries payable

17

Equipment

500

Supplies

31

Income taxes payable

3

Supplies expense

275

Miscellaneous expense

84

Unearned revenue

20

Calculate Total Assets as of 6/30/21.

 

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