The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. Fees Earned Accounts Payable Accounts Receivable Prepaid Insurance Cash Drawing Total assets are a. $7,780 b. $6,721 c. $3,781 d. $2,201 $407 683 Insurance Expense 4,287 Land 1,173 Wages Expense 349 Capital $2,201 495 1,637 705 6,721

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances.
Fees Earned
Accounts Payable
Accounts Receivable
Prepaid Insurance
Cash
Drawing
Total assets are
a. $7,780
b. $6,721
c. $3,781
Od. $2,201
$407
683
Insurance Expense
4,287 Land
1,173 Wages Expense
349
Capital
$2,201
495
1,637
705
6,721
Transcribed Image Text:The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. Fees Earned Accounts Payable Accounts Receivable Prepaid Insurance Cash Drawing Total assets are a. $7,780 b. $6,721 c. $3,781 Od. $2,201 $407 683 Insurance Expense 4,287 Land 1,173 Wages Expense 349 Capital $2,201 495 1,637 705 6,721
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