Swix Company has the following data. Service Revenue Cash Accounts Receivable Office Supplies Rent Expense Salaries Expense Utilities Expense Accounts Payable $12,000 13,000 5,000 8,000 6,000 2,200 1,800 2,200 What is the amount of total liabilities to report on the balance sheet for Swix Company?

Q: What is debit

A: Debit is an entry recorded in the left side column of an account.

Q: What do you mean by Revenue Centre?

A: An operational unit within an organization which is responsible for the activities and tasks…

Q: I nee the statement COGM, COGS and income statement

A: Income statement (IS) refers to the statement which states the income as well as loss which is…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.