User Account

All Pages

How much are the company total assets

Assignment Help Accounting Basics
Reference no: EM132630725

Question - On December 31, 2019, ABC Company reported total assets of $390,000 and total liabilities of $110,000 prior to the following adjusting entries:

Depreciation expense was $31,000

Accrued salaries expense totaled $12,000

The company used up $9,000 worth of an insurance policy, which was initially recorded as a prepaid expense asset

Rent revenue of $7,000 was earned, where the rent was initially prepaid by the tenant and credited to unearned rent revenue.

1. How much are the company's total assets after adjusting entries?

A. $350,000

B. $386,000

C. $379,000

D. $374,000

2. How much are the company's total liabilities after adjusting entries?

A. $115,000

B. $141,000

C. $86,000

D. $110,000

Reference no: EM132630725

Questions Cloud

How much was ABC Company operating income for the year : Cash collections from customers for services yet to be provided totaled $88,000. How much was ABC Company's operating income for the year
Discuss achievement of scholarly inquiry for professionals : Demonstrates achievement of scholarly inquiry for professional and academic decisions using valid, relevant, and reliable outside scholarly source.
What was the net cash flow for investing activities : ABC company paid $2.2 million to purchase stock in another company, What was the net cash flow for investing activities
Describe the adversities that whistleblowers may encounter : Describe the adversities that whistleblowers may encounter and the safeguards that help protect them. Discuss the ethical dilemma
How much are the company total assets : The company used up $9,000 worth of an insurance policy, How much are the company's total assets after adjusting entries
What percentage profit is made by the jeweller : A certain jeweller pays $1350 for a diamond ring that it then marks for sale, What is the selling price of the ring during the closing down sale?
How will nps be reimbursed under the plan : Discuss and debate with your classmates your views on health care reform and how it will affect NPs. How will NPs be reimbursed under this plan?
Determine the amount due the advertising agency : Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2
How do estimate the term of the investment : Josie invests $4 500 at a rate of 3.8% pa compounded annually. At the end of that period, she has $6 500. Estimate the term of the investment.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd