this multiple choice questions from ACCOUNTING PRINCIPLES I.I need the final answer. The following items are taken from the financial statements of (X) Company for the year endingDecember 31, 2010:Accounts payable$ 18,000Accounts receivable11,00028,000Accumulated depreciation- equipmentAdvertising expense21,000Cash15,000Capital1/1/2010102,000DrawingsDepreciation expenseInsurance expense14,00012,0003,000Note payable, due 30/6/2011Prepaid insurance (12-month policy)70,0006,000RentexpenseSalaries expense17,00032,000Service revenue133,000SuppliesSupplies expense4,0006,000Equipment210,00028. What are total current liabilities at December 31, 2010?a. $18,000b. $70,000c. $88,000d. $0С.29. What are total long-term liabilities at December 31, 2010?a. $0b. $70,000c. $88,000d. $90,00030. What is the company's capital at December 31, 2010?b. $74,000a. $130,000c. $85,000d. $66,000

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Description: this multiple choice questions from ACCOUNTING PRINCIPLES I.I need the final answer. The following items are taken from the financial statements of (X) Company for the year endingDecember 31, 2010:Accounts payable$ 18,000Accounts receivable11,00028,0

Net = Servive revenue - Salaries expense - Advertising expense - Depreciation expense - Insurance…

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The following items are taken from the financial statements of (X) Company for the year ending December 31, 2010: $ 18,000 Accounts payable Accounts receivable Accumulated depreciation - equipment Advertising expense Cash 11,000 28,000 21,000 15,000 Capital1/1/2010 Drawings Depreciation expense Insurance expense Note payable, due 30/6/2011 Prepaid insurance (12-month policy) Rentexpense Salaries expense 102,000 14,000 12,000 3,000 70,000 6,000 17,000 32,000 Service revenue 133,000 Supplies Supplies expense Equipment 4,000 6,000 210,000 28. What are total current liabilities at December 31, 2010? b. $70,000 a. $18,000 c. $88,000 d. $0 29. What are total long-term liabilities at December 31, 2010? c. $88,000 a. $0 b. $70,000 d. $90,000 30. What is the company's capital at December 31, 2010? b. $74,000 a. $130,000 c. $85,000 d. $66,000

The following items are taken from the financial statements of (X) Company for the year ending December 31, 2010: $ 18,000 Accounts payable Accounts receivable Accumulated depreciation - equipment Advertising expense Cash 11,000 28,000 21,000 15,000 Capital1/1/2010 Drawings Depreciation expense Insurance expense Note payable, due 30/6/2011 Prepaid insurance (12-month policy) Rentexpense Salaries expense 102,000 14,000 12,000 3,000 70,000 6,000 17,000 32,000 Service revenue 133,000 Supplies Supplies expense Equipment 4,000 6,000 210,000 28. What are total current liabilities at December 31, 2010? b. $70,000 a. $18,000 c. $88,000 d. $0 29. What are total long-term liabilities at December 31, 2010? c. $88,000 a. $0 b. $70,000 d. $90,000 30. What is the company's capital at December 31, 2010? b. $74,000 a. $130,000 c. $85,000 d. $66,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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