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Cash 4.350, AR 1.800, supplies 8670, prepaid insurance 2.300, equipment 26.000, accumulated depreciation 2.000, AP 6.200,...

Cash 4.350, AR 1.800, supplies 8670, prepaid insurance 2.300, equipment 26.000, accumulated depreciation 2.000, AP 6.200, salaries payable 1.200, unearned revenue 2.750, capital ??, withdrawals 1.500. service revenue 20.000, depreciation expense 1.000, salaries expense 6.000, insurance expense1.200, rent expense 1.100, supplies expense 200.

What is the total expenses?

What is the net profit?

What is the total fixed assets?

What is the total current assets?

What is the total short term liabilities?

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Answer #1

Answer-1)- The total expenses is = Depreciation expense+ Salaries expense+ Insurance expense+ Rent expense+ Supplies expense

= $1000+$6000+$1200+$1100+$200

= $9500

2)- The net profit = Service revenue- Total expenses

= $20000-$9500

= $10500

3)-Total fixed assets = Equipment-Accumulated depreciation

= $26000-$2000

= $24000

4)- Total current assets =Cash+ Accounts receivable+ Supplies+ Prepaid insurance

= $4350+$1800+$8670+$2300

= $17120

5)- Total short-term liabilities = Accounts payable+ Salaries payable+ Unearned revenue

= $6200+$1200+$2750

= $10150

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