The following items are taken from the records of ABM Accounting Services: Items 1. Accounts Receivable 2. Rent Expense 3. Professional Fees 4. Advertising Expense 5. Supplies Expense 6. Prepaid Rent 7. Cash in Bank 8. Furniture and Fixtures Amount P 12,500 10,000 175,000 15,700 7,250 30,000 83,500 15,900 9. Accounts Payable 10. Taxes Payable 11. Office Equipment 12. Owner's Capital 65,350 36,700 65,400 350,000 12 13. Cash on Hand 14. Unearned Revenue 15. Owner's Additional Capital 16. Unused Supplies 17. Salaries Expense 18. Utilities Expense 19. Loan Payable 20. Prepaid Insurance 36,200 15,800 90,000 5,350 16,000 4,620 150,000 4,200 Compute the total amount of five major accounts: ASSET LIABILITIES OWNER'S EQUITY Items Amount Items Amount Items Amount TOTAL P ТOTAL P TOTAL P ====== ====== REVENUES EXPENSES Items Items Amount Amount 12/ 14 TOTAL P 2EC

The following items are taken from the records of ABM Accounting Services: Items 1. Accounts Receivable 2. Rent Expense 3. Professional Fees 4. Advertising Expense 5. Supplies Expense 6. Prepaid Rent 7. Cash in Bank 8. Furniture and Fixtures Amount P 12,500 10,000 175,000 15,700 7,250 30,000 83,500 15,900 9. Accounts Payable 10. Taxes Payable 11. Office Equipment 12. Owner's Capital 65,350 36,700 65,400 350,000 12 13. Cash on Hand 14. Unearned Revenue 15. Owner's Additional Capital 16. Unused Supplies 17. Salaries Expense 18. Utilities Expense 19. Loan Payable 20. Prepaid Insurance 36,200 15,800 90,000 5,350 16,000 4,620 150,000 4,200 Compute the total amount of five major accounts: ASSET LIABILITIES OWNER'S EQUITY Items Amount Items Amount Items Amount TOTAL P ТOTAL P TOTAL P ====== ====== REVENUES EXPENSES Items Items Amount Amount 12/ 14 TOTAL P 2EC

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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