Pope’s Garage had the following accounts and amounts in its financial statements
ID: 2779193 • Letter: P
Question
Pope’s Garage had the following accounts and amounts in its financial statements on December 31, 2013. Assume that all balance sheet items reflect account balances at December 31, 2013, and that all income statement items reflect activities that occurred during the year then ended.
Pope’s Garage had the following accounts and amounts in its financial statements on December 31, 2013. Assume that all balance sheet items reflect account balances at December 31, 2013, and that all income statement items reflect activities that occurred during the year then ended.
Explanation / Answer
Current assets: Accounts receivable $ 31,800 Cash $ 9,200 Supplies $ 5,100 Merchandise inventory $ 29,800 Total $ 75,900