solved Check please Basic computations. The following selected balances were extract
Check please Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3: Accounts Payable $3,200 L Interest Expense $2,500 E Accounts Receivable 14,800 A Land 18,000 A Auto Expense 1,900 E Loan Payable 44,200 L Building 32,000 A Tax Expense 3,300 E Cash 7,400 A Utilities Expense 4,100 E Fee Revenue 60,100 R Wage Expense 37,500 E a. Determine Rossi’s total assets as of December 31. $72,400 b. Determine the company’s total liabilities as of December 31. $47,400 c. Compute 20X3 net income or loss. $10,800 Revenue: 60,100 Expenses: 49,300 =$10,800 Accounting equation; analysis of owner’s equity. Sportscar Repair revealed the following financial data on January 1 and December 31 of thecurrent year. Assets Liabilities […]