Question

Answer me which one should I select; A,b, c, d QUESTION 1 Saba Inc. shows the...

Answer me which one should I select; A,b, c, d

QUESTION 1

  1. Saba Inc. shows the following general ledger accounts:  

    Cash

    4,500

    Accounts Receivable  

    11,500

    Merchandise Inventory  

    21,900

    Long‐term Investments  

    5,900

    Prepaid Expenses  

    8,900

    Intangible Assets  

    22,000

    Long‐term Notes Payable

    30,400

    Land  

    45,000

    Equipment  

    14,500

    Accounts Payable  

    7,800

    Common Stock

    5,000

    Supplies Expense  

    7,000

    Service Revenue  

    54,000

    Unused Supplies  

    2,300

    Unearned Revenue  

    16,750

    What is the balance of its current liabilities section of the balance sheet?

    a.

    $46,800

    b.

    $24,550

    c.

    $55,000

    d.

    $89,700

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Current Liabilities

= Accounts Payable 7,800 + Unearned revenue 16,750

= 7,800 + 16,750

= 24,550

Option B is the answer

Add a comment
Know the answer?
Add Answer to:
Answer me which one should I select; A,b, c, d QUESTION 1 Saba Inc. shows the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Accounting 11 NAME MIDTERM For B CLASS SEAT# PART I-ANSWER THESE QUESTION ON SCANTRON (use pencil)...

    Accounting 11 NAME MIDTERM For B CLASS SEAT# PART I-ANSWER THESE QUESTION ON SCANTRON (use pencil) For questions, 1-5 select one of the choices A-E for categories on a Classified Balance Sheet: A. Current liabilities D. On Income Statement E. On Statement of Owner's Equity B. Long-term liabilities C. Owner's equity 1. Accounts Payable 2. Notes payable due in 10 years 3. Owner's Withdrawals 4. Service Revenues 5. Unearned Revenue For questions, 6-10 select one of the choices A-E for...

  • please help me find the followings. question #2) a,b, c,d from this balance sheet. please only for year 2018 pl...

    please help me find the followings. question #2) a,b, c,d from this balance sheet. please only for year 2018 please also explain how you solved it. thank you very much. What is the largest expense and its amount? a. Study the company's 2018 balance sheet and answer the following questions: a. What classes of stock(shares) did the company issued? b. Which item carries a larger balance-the Common Stock account or Paid-In Capital in Excess of Par (also labeled Additional Paid-In...

  • SECTION B - ANSWER ALL QUESTIONS Question 1 Mutiara Sdn. Berhad is a trading company and...

    SECTION B - ANSWER ALL QUESTIONS Question 1 Mutiara Sdn. Berhad is a trading company and the company operates in a rented shop space in Damansara. The following information is the company's unadjusted year-end trial balance dated December 31, 2017. Mutiara Sdn. Berhad Unadjusted Trial Balance as at 31 December, 2017 RM RM Accounts receivable 690,000 Allowance for doubtful debt 10,500 Accounts payable 242,000 Administrative expense 175,000 Cash and cash equivalent 79,079 Cost of goods sold 620,000 Income tax expense...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT