Solution-Calculate current assets and total assets

Calculate current assets and total assets

Reference no: EM132221319

Question - SPQR Company's adjusted trial balance as of December 31, 2015 is presented below. SPQR has to make a $1,800 payment on the note payable during fiscal 2016.

	Dr	Cr
Cash	4,200
Accounts Receivable	6,800
Supplies	700
Prepaid Insurance	600
Prepaid Rent	2,600
Equipment	29,500
Accumulated Depreciation		8,900
Accounts Payable		1,100
Salaries Payable		1,300
Interest Payable		100
Note Payable		5,400
Capital		19,300
Withdrawals	2,000
Service Revenue		49,200
Salaries Expense	15,900
Rent Expense	13,000
Supplies Expense	2,100
Utilities Expense	4,800
Insurance Expense	2,700
Interest Expense	400
Totals	85,300	85,300

Required - Calculate Current Assets, Total Assets, Current Liabilities, Total Liabilities, Equity, and Net Income.

Reference no: EM132221319

Questions Cloud

Most companies to use them as database system : For SQL Server 2016, why is it more beneficial for most companies to use them as a database system?

Most important consideration for vacant land investment : The most important consideration for a vacant land investment is its

Consider role of interest groups in policy-making process : Consider the role of interest groups in the policy-making process, How does the financing of interest groups impact healthcare policy in the United States?

Value proposition of logistics : Value proposition of logistics and how it is integrated into other company functions

Calculate current assets and total assets : SPQR has to make a $1,800 payment on the note payable during fiscal 2016. Calculate Current Assets, Total Assets, Current Liabilities, and Total Liabilities

Discuss the benefits of the three-tiered system : Discuss the benefits of the three-tiered system of prioritizing recovery efforts, and provide examples of each tier in a department of an organization.

Term life insurance and permanent life insurance : What are three (3) key differences between term life insurance and permanent life insurance?

Private property-public property and common property : Define and differentiate between private property, public property, and common property. What are the three types of deeds and explain how they differ.

List examples of a weaknesses and threats : List two examples of Strengths and Opportunities (SO) within the organization - explain how an internal strength can be matched with an external opportunity

User Account

All Pages

Calculate current assets and total assets

Reference no: EM132221319

Reference no: EM132221319

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT