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These are selected account balances on December 31, 2017. Land $150,000 Land (held for future use) 225,000 Buildings Inventory Equipment Furniture 1,200,000 300,000 675,000 150,000 Accumulated Depreciation 450,000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? a. $2,250,000 b. $1,950,000 c. $2,700,000 d. $1,725,000 During the month of March, Harley's Computer Services made purchases on account totaling $46,300. Also, during the month of March, Harley was paid $12,200 by a customer for services to be provided in the future and paid $38,300 of cash on its accounts payable balance. If the balance in the accounts payable account at the beginning of March was $78,700, what is the balance in the accounts payable at the end of March? Jones Engineering has $60,000 in assets. They also have $25,000 in liabilities and $5,000 in expenses, and they paid out $7,500 in dividends this year. The extended accounting equation is assets = liabilities + (revenue (expenses + dividends)). What would their revenue need to be for their accounts to be in balance?

These are selected account balances on December 31, 2017. Land $150,000 Land (held for future use) 225,000 Buildings Inventory Equipment Furniture 1,200,000 300,000 675,000 150,000 Accumulated Depreciation 450,000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? a. $2,250,000 b. $1,950,000 c. $2,700,000 d. $1,725,000 During the month of March, Harley's Computer Services made purchases on account totaling $46,300. Also, during the month of March, Harley was paid $12,200 by a customer for services to be provided in the future and paid $38,300 of cash on its accounts payable balance. If the balance in the accounts payable account at the beginning of March was $78,700, what is the balance in the accounts payable at the end of March? Jones Engineering has $60,000 in assets. They also have $25,000 in liabilities and $5,000 in expenses, and they paid out $7,500 in dividends this year. The extended accounting equation is assets = liabilities + (revenue (expenses + dividends)). What would their revenue need to be for their accounts to be in balance?

FINANCIAL ACCOUNTING
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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These are selected account balances on December 31, 2017. Land $150,000 Land (held for future use) 225,000 Buildings Inventory Equipment Furniture 1,200,000 300,000 675,000 150,000 Accumulated Depreciation 450,000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? a. $2,250,000 b. $1,950,000 c. $2,700,000 d. $1,725,000 During the month of March, Harley's Computer Services made purchases on account totaling $46,300. Also, during the month of March, Harley was paid $12,200 by a customer for services to be provided in the future and paid $38,300 of cash on its accounts payable balance. If the balance in the accounts payable account at the beginning of March was $78,700, what is the balance in the accounts payable at the end of March? Jones Engineering has $60,000 in assets. They also have $25,000 in liabilities and $5,000 in expenses, and they paid out $7,500 in dividends this year. The extended accounting equation is assets = liabilities + (revenue (expenses + dividends)). What would their revenue need to be for their accounts to be in balance?
Transcribed Image Text:These are selected account balances on December 31, 2017. Land $150,000 Land (held for future use) 225,000 Buildings Inventory Equipment Furniture 1,200,000 300,000 675,000 150,000 Accumulated Depreciation 450,000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? a. $2,250,000 b. $1,950,000 c. $2,700,000 d. $1,725,000 During the month of March, Harley's Computer Services made purchases on account totaling $46,300. Also, during the month of March, Harley was paid $12,200 by a customer for services to be provided in the future and paid $38,300 of cash on its accounts payable balance. If the balance in the accounts payable account at the beginning of March was $78,700, what is the balance in the accounts payable at the end of March? Jones Engineering has $60,000 in assets. They also have $25,000 in liabilities and $5,000 in expenses, and they paid out $7,500 in dividends this year. The extended accounting equation is assets = liabilities + (revenue (expenses + dividends)). What would their revenue need to be for their accounts to be in balance?
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