The accounts in the ledger of Monroe Entertainment Co. follow. All accounts have normal balances. Line Item Description Amount Accounts Payable $460 Accounts Receivable 610 Supplies 500 Prepaid Insurance 1,750 Cash 1,730 Office Equipment 1,800 Dividends 660 Unearned Rent 1,600 Fees Earned 3,280 Insurance Expense 600 Rent expense 1,500 Land 2,960 Wages Expense 700 Retained Earnings 5,500 Common Stock 5,270 Total assets are a. $3,280 b. $5,270 c. $2,800 d. $9,350
The accounts in the ledger of Monroe Entertainment Co. follow. All accounts have normal balances. Line Item Description Amount Accounts Payable $460 Accounts Receivable 610 Supplies 500 Prepaid Insurance 1,750 Cash 1,730 Office Equipment 1,800 Dividends 660 Unearned Rent 1,600 Fees Earned 3,280 Insurance Expense 600 Rent expense 1,500 Land 2,960 Wages Expense 700 Retained Earnings 5,500 Common Stock 5,270 Total assets are a. $3,280 b. $5,270 c. $2,800 d. $9,350
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The accounts in the ledger of Monroe Entertainment Co. follow. All accounts have normal balances.
| Line Item Description | Amount |
|---|---|
| Accounts Payable | $460 |
| 610 | |
| Supplies | 500 |
| Prepaid Insurance | 1,750 |
| Cash | 1,730 |
| Office Equipment | 1,800 |
| Dividends | 660 |
| Unearned Rent | 1,600 |
| Fees Earned | 3,280 |
| Insurance Expense | 600 |
| Rent expense | 1,500 |
| Land | 2,960 |
| Wages Expense | 700 |
| 5,500 | |
| Common Stock | 5,270 |
Total assets are
a. $3,280
b. $5,270
c. $2,800
d. $9,350
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