The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances.
Account Payable $454 Fees Earned $2,425
Accounts Receivable $ 960 Insurance Expense $457
Investment $ 4,269 Land $1,735
Cash $ 688 Wages Expense $883
Drawing $ 496 Capital $6,609
Determine the total of all the assets.
Select the correct answer.
$2,425
$3,567
$6,609
$1,085
$7,652
The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances.
Account Payable $481 Fees Earned $2,262
Accounts Receivable $631 Insurance Expense $431
Investment $4,221 Land $1,702
Cash $796 Wages Expense $727
Drawing $439 Capital $6,204
Determine the total of all the liabilities.
Select the correct answer.
$2,262
$7,350
$481
$1,104
$6,204
The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances.
Account Payable $408 Fees Earned $2,014
Accounts Receivable $855 Insurance Expense $410
Investment $4,658 Land $1,606
Cash $543 Wages Expense $739
Drawing $369 Capital $6,758
Determine the net income.
Select the correct answer.
$865
$408
$7,662
$2,014
$6,758