The following accounts and sums of accounts in the computerized accounting system of Zinn Supplies show some
Question:
Total assets.............................................................. ?
Current assets........................................................ $16,800
Long-term assets ................................................... 40,200
Total liabilities........................................................ ?
Sam Zinn, Capital..................................................$40,800
Sam Zinn, Withdrawals ........................................ 15,000
Total revenues........................................................ 54,000
Total expenses........................................................ 33,000
Compute the missing amounts. You must also compute ending owner's equity.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
Question Posted: