The following are the selected ledger balances taken from the books of ABC Company for the year 2021: Accrued Rent Income P 180,000 Rent Expense P 120,000 Accounts Receivable 126,000 Cash 112,000 Allowance for Bad Debts 12,600 Prepaid Advertising 12,000 Service Income 500,000 Salaries Expense 115,000 Office Equipment 430,000 Utilities Expense 49,000 Accumulated 75,000 Unused Supplies 18,000 Depreciation Representation Expense 60,000 Owner, Capital 463,300 Unearned Service Income 22,000 Accounts Payable 240,000 Accrued Interest Owner, Drawing 14,000 10,700 Expense Compute for the total assets of ABC Company.

The following are the selected ledger balances taken from the books of ABC Company for the year 2021: Accrued Rent Income P 180,000 Rent Expense P 120,000 Accounts Receivable 126,000 Cash 112,000 Allowance for Bad Debts 12,600 Prepaid Advertising 12,000 Service Income 500,000 Salaries Expense 115,000 Office Equipment 430,000 Utilities Expense 49,000 Accumulated 75,000 Unused Supplies 18,000 Depreciation Representation Expense 60,000 Owner, Capital 463,300 Unearned Service Income 22,000 Accounts Payable 240,000 Accrued Interest Owner, Drawing 14,000 10,700 Expense Compute for the total assets of ABC Company.

Name: The following are the selected ledger balances taken from the books o
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Description: The following are the selected ledger balances taken from the books of ABC Company for the year 2021:Accrued Rent IncomeP 180,000Rent ExpenseP 120,000Accounts Receivable126,000Cash112,000Allowance for Bad Debts 12,600Prepaid Advertising12,000Service

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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