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Drew Carey Company has the following balances in selected accounts on December 31, 2010.

Accounts Receivable $ -0-
Accumulated Depreciation-Equipment -0-
Equipment 7,000
Interest Payable -0-
Notes Payable 10,000
Prepaid Insurance 2,100
Salaries Payable -0-
Supplies 2,450
Unearned Consulting Revenue 40,000

All the accounts have normal balances. The information below has been gathered at December 31, 2010.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M948840

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