The following list of accounts is from the adjusted trial balance for Monty Corporation: Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Advertising expenses Buildings Cash Common shares Cost of goods sold Deferred revenue Depreciation expense $128,640 179,520 94,080 217,920 107,520 410,880 68,160 220,800 1.069,440 30,720 180,480 Equipment Income tax expense Insurance expense Inventory Land Loan payable (due in 2 years) Prepaid expenses Property tax payable Refund liability Salaries expense Salaries payable Sales 4 $907,200 58,560 112,320 222,720 1,056,000 1,872,000 27,840 17,280 20.160 744.960 24.960 2.519.040
The following list of accounts is from the adjusted trial balance for Monty Corporation: Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Advertising expenses Buildings Cash Common shares Cost of goods sold Deferred revenue Depreciation expense $128,640 179,520 94,080 217,920 107,520 410,880 68,160 220,800 1.069,440 30,720 180,480 Equipment Income tax expense Insurance expense Inventory Land Loan payable (due in 2 years) Prepaid expenses Property tax payable Refund liability Salaries expense Salaries payable Sales 4 $907,200 58,560 112,320 222,720 1,056,000 1,872,000 27,840 17,280 20.160 744.960 24.960 2.519.040
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.2.1MBA
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![Determine the amount of Monty's current assets and current liabilities.
Total current assets
Total current liabilities $
2 Type here to search
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Transcribed Image Text:Determine the amount of Monty's current assets and current liabilities.
Total current assets
Total current liabilities $
2 Type here to search
eTextbook and Media
Save for Later
![The following list of accounts is from the adjusted trial balance for Monty Corporation:
Accounts payable
Accounts receivable
Accumulated depreciation-buildings
Accumulated depreciation-equipment
Advertising expenses
Buildings
Cash
Common shares
Cost of goods sold
Deferred revenue
Depreciation expense
e to search
$128,640
179,520
94,080
217,920
107,520
410,880
68,160
220,800
1.069,440
30,720
180,480
Equipment
Income tax expense
Insurance expense
Inventory
Land
Loan payable (due in 2 years)
Prepaid expenses
Property tax payable
Refund liability
Salaries expense
Salaries payable
Sales
$907,200
58,560
112,320
222,720
1,056,000
1,872,000
27,840
17,280
20.160
744.960
24,960
2.519,040](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1d99cd32-7cae-46d5-9aad-cccfcc15d7d0%2F34bfa629-ad2a-4b7a-ba37-be2a93b26657%2Fjl6mtm3_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following list of accounts is from the adjusted trial balance for Monty Corporation:
Accounts payable
Accounts receivable
Accumulated depreciation-buildings
Accumulated depreciation-equipment
Advertising expenses
Buildings
Cash
Common shares
Cost of goods sold
Deferred revenue
Depreciation expense
e to search
$128,640
179,520
94,080
217,920
107,520
410,880
68,160
220,800
1.069,440
30,720
180,480
Equipment
Income tax expense
Insurance expense
Inventory
Land
Loan payable (due in 2 years)
Prepaid expenses
Property tax payable
Refund liability
Salaries expense
Salaries payable
Sales
$907,200
58,560
112,320
222,720
1,056,000
1,872,000
27,840
17,280
20.160
744.960
24,960
2.519,040
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