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Table 4-2
the Ledger Accounts for Alice's Rentals Include the Following

question 79

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Table 4-2
The ledger accounts for Alice's Rentals include the following normal balances as of December 31, 2019:  Accumulated amortization $2,000 Cash 7,300 Equipment 15,000 Alice Normanson, Capital 9,300 Alice Normanson, Withdrawals 2,200 Prepaid rent 3,600 Accountspayable 7,800 Supplies 1,200 Unearned revenue 1,600 Notes payable (due Dec. 31,2023) 7,500\begin{array} { | r | r | } \hline \text { Accumulated amortization } & \$ 2,000 \\\hline \text { Cash } & 7,300 \\\hline \text { Equipment } & 15,000 \\\hline \text { Alice Normanson, Capital } & 9,300 \\\hline \text { Alice Normanson, Withdrawals } & 2,200 \\\hline \text { Prepaid rent } & 3,600 \\\hline \text { Accountspayable } & 7,800 \\\hline \text { Supplies } & 1,200 \\\hline \text { Unearned revenue } & 1,600 \\\hline \text { Notes payable (due Dec. } 31,2023 ) & 7,500 \\\hline\end{array}
-Referring to Table 4-2, what are the total current assets and total assets for Alice's Rentals?

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Definitions:

Outputs

The goods or services produced by a company or an economy.

Production Process

The series of actions or steps taken in order to create a product or service.

Goods and Services

The physical items (goods) and intangible assistance or activities (services) that fulfill the needs or wants of consumers, forming the basis of all economic activities.

Comparative Advantage

The capacity of a country or firm to produce a particular good or service at a lower marginal and opportunity cost over another.

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