Solution-Find which is an asset, Which of these is an

Find which is an asset

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Reference no: EM132762839

Problem 1: Which of these is an asset?

A. Income tax payable

B. Asset revaluation reserve

C. Interest earned on investments

D. Income received in advance

E. None are assets

Accounts for ABC are as follows:

Cash $4,000
Bank overdraft 11,000
Creditors 3,000
Inventory 2,700
Debtors 8,100
Furniture 4,500
Loan payable 15,000
Car 12,000

Problem 2: Owner's equity is:

A. $13,300

B. $400

C. $5,300

D. $31,000

E. $2,300

Reference no: EM132762839

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Find which is an asset

Reference no: EM132762839

Reference no: EM132762839

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