Menu
support@businesspapershelp.com
+1(805) 568 7317

question i have posted this question before but no one has seemed to get it right i 4284031

Question

I have posted this question before but no one has seemed to get it right. I do know what the answers are NOT

Total assets are NOT 945596 Cash is NOT 88790

Total asseta are NOT 1005156 Cash is NOT 148350

The following balance sheet is for X Company: Balance Sheet January 1, 2015 Assets Equities Cash $52,726 Accounts Payable Accounts Receivable 13,657 Wages Payable 156,628 Notes Payable Inventory Prepaid Rent 5,540 Paid-In Capital Equipment 311,493 Retained Earnings Total Assets $540,044 Total Equities The following summary transactions occurred during 2015: borrowed $4,601 from the bank paid $83,688 to suppliers for merchandise purchased on account paid for $50,850 of advertising purchased $256,080 of merchandise on account and $209,520 for cash sold merchandise for $514,504 on account and $190,296 for cash; the merchandise cost $387,640 signed a four-year rental lease for $8,000; paid for one year in advance paid $5,000 for land and equipment received $235,976 from customers for merchandise sold on account received $8,809 in cash contributions from new owners Note: Ignore adjusting entries. 3. What was the cash balance on December 31, 2015? Submit Answer Tries 0/3 4. What were total assets on December 31, 2015? Submit Answer Tries 0/3 $244,535 1,498 33,019 191,605 69,387 $540,044

 

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"GET15"

Order Now