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The following accounts were included on Megan's Style Consultants adjusted trial balance at December 31, 2010:

Accounts payable $ 2,000

Accounts receivable 5,500

Cash 11,000

Megan, Capital 40,000

Megan, Drawing 10,000

Interest expense 3,000

Note payable, due 8/31/13 60,000

Supplies 1,000

Service revenue 39,000

Equipment 5,000

a) What are total current assets?

b) What are total current liabilities?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9438517

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