ACC MCQ ACC101 Chapter 3 On June 30 of the current year, the assets and liabilities of Phoenix Phildel are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of July 1 of the current year?

On June 30 of the current year, the assets and liabilities of Phoenix Phildel are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of July 1 of the current year?

ACC101 Chapter 3

On June 30 of the current year, the assets and liabilities of Phoenix Phildel are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of July 1 of the current year?

a. $8,300
b. $13,050
c. $20,500
d. $31,100
e. $40,400

Answer: D

Learn More :

If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.

ACC MCQ

On June 30 of the current year, the assets and liabilities of Phoenix Phildel are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of July 1 of the current year?

On June 30 of the current year, the assets and liabilities of Phoenix Phildel are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of July 1 of the current year?

Learn More :

Share this