Table 4-6
Selected Accounting Data as at December 31, 2019

question 84

Multiple Choice

Table 4-6
Selected accounting data as at December 31, 2019 for Martineau Delivery follows: $$\begin{array} { | l | r | } \hline \text { Cash } & \$ 25,000 \\\hline \text { Accounts payable } & 33,000 \\\hline \text { Accounts receivable } & 34,000 \\\hline \text { Salary payable } & 7,500 \\\hline \text { Supplies } & 6,600 \\\hline \text { Unearned revenue } & 16,500 \\\hline \text { Prepaid rent } & 4,000 \\\hline \text { Mortgage payable (due } 2023 \text { ) } & 48,000 \\\hline \text { Equipment } & 52,000 \\\hline \text { C. Lexus, Capital } & 10,000 \\\hline \text { Accum. amort. -equipment } & 12,000 \\\hline \text { Service revenue } & 69,000 \\\hline \text { Salary expense } & 31,000 \\\hline \text { Accum. amort. -furniture } & 6,000 \\\hline \text { Fumiture } & 49,400 \\\hline\end{array}$$
-Referring to Table 4-6, the current assets and total assets are:

• A)$69,600 and $153,000 respectively.
• B)$65,600 and $153,000 respectively.
• C)$65,600 and $79,400 respectively.
• D)$69,600 and $77,400 respectively.

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Definitions:

Direct Costs

Expenses that can be directly tied to the production of specific goods or services, such as raw materials and labor.

Indirect Costs

Expenses not directly related to the production of goods or services but necessary for operations, such as utilities or administration.

Grease

A thick oily substance used for lubrication.

Wheel Axles

A crucial part of a vehicle's suspension system, designed to support the vehicle's weight and enable wheel rotation.