What was total liabilities

Assignment Help Financial Accounting
Reference no: EM132976635

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 10,000

Problem 1: Make a trial balance?

Problem 2: Based on the trial balance, what was net income?

Problem 3: Based on the trial balance, what was total assets?

Problem 4: Based on the trial balance, what was total liabilities?

Reference no: EM132976635

Questions Cloud

Which of represents a time when taxpayer who receives : Which of the following represents a time when a taxpayer who receives a non statutory stock option may have taxable income?
How many units of each product should be produced : Maximum yearly demand for Products A is 600 units and for Product B is 800 units. Determine how many units of each product should be produced to maximise yearly
Can an entity financial statements comply with accounting : Can an entity's financial statements comply with accounting standards and yet not provide a 'true and fair' view of the entity's financial position
Prepare an appropriate supporting note : Assuming that the change in accounting estimate had a material effect on financial performance for the period, prepare an appropriate supporting note
What was total liabilities : Based on the trial balance, what was total liabilities? S. Adams, Capital 58,000 Insurance Expense 2,200.S. Adams, Capital 58,000 Insurance Expense 2,200
Calculate the combined resistance of the two maingate : Calculate the combined resistance of the two maingate airways and What is the current combined two fans in series operating point
Determine the future value of this annuity due : Determine the future value of this annuity due if her first $400 is invested now. It would help if you can show the work
Produce report at end of your digital consultancy project : Produce a report at the end of your digital consultancy project - which extent the outcomes matched the project objectives
What are the? paper weighted cost proportions : What are the? paper's and the? pencil's approximate weighted cost proportions using the sales value at split-off? method, respectively

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

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