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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.:- M9102429

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