Office salaries 311,000 Office supplies used 70,800 Prepaid expenses 49,800 Purchases 2,424,180 Purchase discounts 27,200 Purchase returns 45,840 Sales 3,818,024 Sales discounts 50,000 Sales returns 35,480 Bonds payable 116,400 Salaries payable 27,621 Sales salaries 201,768 Utilities expense 31,560 Utilities payable 75,160 Merchandise Inventory, December 31, 2022 522,800 Interest expense - mortgage 23,212 Gain from sale of equipment 12,976 How much is the total assets in the statement of financial position as of December 31, 2022?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Please see attached pictures. How much is the total assets in the statement of financial position as of December 31, 2022?
Office salaries
311,000
Office supplies used
70,800
Prepaid expenses
49.800
Purchases
2,424,180
Purchase discounts
27,200
Purchase returns
45,840
Sales
3,818,024
Sales discounts
50,000
Sales returns
35,480
Bonds payable
116,400
Salaries payable
27,621
Sales salaries
201,768
Utilities expense
31,560
Utilities payable
75,160
Merchandise Inventory, December 31, 2022
522,800
Interest expense - mortgage
23,212
Gain from sale of equipment
12,976
How much is the total assets in the statement of financial position as of December 31,
2022?
Transcribed Image Text:Office salaries 311,000 Office supplies used 70,800 Prepaid expenses 49.800 Purchases 2,424,180 Purchase discounts 27,200 Purchase returns 45,840 Sales 3,818,024 Sales discounts 50,000 Sales returns 35,480 Bonds payable 116,400 Salaries payable 27,621 Sales salaries 201,768 Utilities expense 31,560 Utilities payable 75,160 Merchandise Inventory, December 31, 2022 522,800 Interest expense - mortgage 23,212 Gain from sale of equipment 12,976 How much is the total assets in the statement of financial position as of December 31, 2022?
Use the following information:
ACCOUNTS
AMOUNTS
Accounts receivable
P530,600
Accumulated depreciation- Furniture & Fixture
73,340
Accumulated depreciation Office Equipment
188,360
Advertising expense
126,600
Allowance for bad debts
42,600
Cash
510,200
Depreciation expense - Furniture and fixture
36,800
Depreciation expense - Office Equipment
94,180
Bad debts expense
115,000
Freight- in
41.960
Freight - out
32,160
Furniture and fixtures
282,680
Interest expense - loans
21,708
Interest income
34,800
320,320
Land
Merchandise Inventory, January 1, 2022
414,000
821,000
Mortgage payable
232,200
Notes receivable
Office equipment
857,800
311,000
Office salaries
70,800
Office supplies used
49,800
Prepaid expenses
2,424,180
Purchases
27,200
Purchase discounts
Transcribed Image Text:Use the following information: ACCOUNTS AMOUNTS Accounts receivable P530,600 Accumulated depreciation- Furniture & Fixture 73,340 Accumulated depreciation Office Equipment 188,360 Advertising expense 126,600 Allowance for bad debts 42,600 Cash 510,200 Depreciation expense - Furniture and fixture 36,800 Depreciation expense - Office Equipment 94,180 Bad debts expense 115,000 Freight- in 41.960 Freight - out 32,160 Furniture and fixtures 282,680 Interest expense - loans 21,708 Interest income 34,800 320,320 Land Merchandise Inventory, January 1, 2022 414,000 821,000 Mortgage payable 232,200 Notes receivable Office equipment 857,800 311,000 Office salaries 70,800 Office supplies used 49,800 Prepaid expenses 2,424,180 Purchases 27,200 Purchase discounts
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