Compute total assets and total liabilities


Computation of balance sheet amounts:

Based upon the following information, compute total assets, total liabilities, and total capital; in addition, determine whether all of the accounts are listed.

Cash                                 $22,000
Accounts receivable             12,000
Accounts payable                15,000
Equipment                         50,000
Rent expense                     11,000
Service revenue                  74,000
Notes payable                     17,000
Accumulated depreciation     25,000
Depreciation expense           15,500
Office supplies                     3,000
Office supplies expense         8,000
Salaries payable                   4,000

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Accounting Basics: Compute total assets and total liabilities
Reference No:- TGS02057705

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