The General Ledger has the following accounts and balances:
|
Land
|
20,000
|
Cash
|
5,000
|
|
Accounts Receivable
|
10,000
|
Buildings-Net
|
100,000
|
|
Accounts Payable
|
10,000
|
Accrued Salaries & Wages
|
2,000
|
|
Notes Payable-Current
|
20,000
|
Inventory
|
25,000
|
|
Capital-Beginning
|
50,000
|
Taxes Payable
|
3,000
|
|
Prepaid Expenses
|
2,000
|
Vehicles-Net
|
15,000
|
|
Supplies
|
1,000
|
Notes Payable-Long Term
|
70,000
|
|
Petty Cash
|
1,000
|
|
|
|
|
Instructions:
Using the above information select the appropriate dollar amount for the following questions:
Note: Paper, pencil, and a calculator will aid you in calculating the correct amounts.
Hint: Preparing a Balance Sheet will provide you with the answers to the questions.
Give the test a try on your own; but, if you need to see the results, check out
the Balance Sheet .
Question .
.
|
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