Concept Check 3.docx - Concept Check 3 General Ledger for...

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Concept Check 3 General Ledger for ABC Company The following is the general ledger for ABC Company as of December 31, 20X1. Use this information to answer questions (1) through (4). ABC Company General Ledger As of December 31, 20X1 Amoun t Assets Cash $29,40 0 Accounts receivable 8,100 Supplies 4,900 Prepaid rent 20,200 Equipment (net) 63,800 Liabilities Liabilities Accounts payable $ 6,300 Salaries payable 4,000 Interest payable 1,100 Utilities payable 3,700 Bonds payable 38,40 0 Stockholders' equity Common stock $60,9 00 Retained earnings 0 Dividends 2,100 Revenues Sales revenue $54,2 00 Interest revenue 1,400 Expenses
Cost of goods sold $15,1 00 Salaries expense 7,100 Rent expense 4,900 Supplies expense 1,300 Utilities expense 4,800

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