These financial statement items are for Pharoah Company at year-end, July 31, 2020. Salaries and wages payable $1,700 Notes payable (long-term) $1,700 Salaries and wages expense 51,800 Cash 13,400 Utilities expense 22,500 Accounts receivable 9,500 Equipment 29,100 Accumulated depreciation-equipment 6,300 Accounts payable 4,500 Owner's drawings 3,800 Service revenue 61,100 Depreciation expense 4,500 Rent revenue 8,700 Owner's Capital (beginning of the year) 50,600

These financial statement items are for Pharoah Company at year-end, July 31, 2020. Salaries and wages payable $1,700 Notes payable (long-term) $1,700 Salaries and wages expense 51,800 Cash 13,400 Utilities expense 22,500 Accounts receivable 9,500 Equipment 29,100 Accumulated depreciation-equipment 6,300 Accounts payable 4,500 Owner's drawings 3,800 Service revenue 61,100 Depreciation expense 4,500 Rent revenue 8,700 Owner's Capital (beginning of the year) 50,600

Name: Prepare a classified balance sheet at July 31. (List Current Assets i
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Description: Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.)PHAROAH COMPANYBalance SheetAssets$Liabilities and Owner's Equity2$ These financial statement items are for Pharoah Company at year-end, July 31, 2020.Salarie

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 financial statement items are for Pharoah Company at year-end, July 31, 2020. Salaries and wages payable $1,700 Notes payable (long-term) $1,700 Salaries and wages expense 51,800 Cash 13,400 Utilities expense 22,500 Accounts receivable 9,500 Equipment 29,100 Accumulated depreciation-equipment 6,300 Accounts payable 4,500 Owner's drawings 3,800 Service revenue 61,100 Depreciation expense 4,500 Rent revenue 8,700 Owner's Capital (beginning of the year) 50,600
The assets and liabilities of Snub Services as of March 31, 2020, the end of the current year, and its revenues and expenses for the year ended March 31, 2020 are listed below. The Retained Earnings balance was $10,030 at April 1, 2019, the beginning of the current year. Accounts Payable: $1,620 Accounts Receivable: $8,360 Cash: $27,950 Dividends: $13,130 Equipment: $82,770 Fees Earned: $115,430 Net Income: $ Upon completion of its financial statements for the year ended (and as of) March 31, 2020, Snub Services would report the following amounts: Ending Retained Earnings: $ Land: $58,970 Miscellaneous Expense: $1,960 Office Expense: $6,260 Stock: $98,050 Ending Total Liabilities and Equity: $ Supplies: $3,430 Wage Expense: $22,300
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