Reference no: EM132974195
The following is a random list showing the account balances of various assets, liabilities, equity, revenues and expenses for Mack, Inc. for the month ended June 30, 2015:
Accounts Payable $ 3,100 Land $35,000
Accounts Receivable 1,400 Notes Payable 3,300
Equipment 22,000 Rent Expense 2,400
Cash 15,600 Salaries Expense 10,000
Sales Revenue 22,700 Supplies 400
S. Adams, Capital 58,000 Insurance Expense 2,200
Unearned Revenue 10,000S. Adams, Withdrawal13,000
Problem 1: Based on the chart above, calculate the following (show your calculations to receive full credit):
1. Total assets
2. Total liabilities
3. Total owner's capital
4. Net income
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