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

question 9

Multiple Choice

Table 4-4
Selected accounting data as at December 31, 2019 for Huma Delivery follows: $$\begin{array} { | l | r | } \hline \text { Cash } & \$ 11,000 \\\hline \text { Accounts payable } & 8,000 \\\hline \text { Accounts receivable } & 5,500 \\\hline \text { Salary payable } & 6,300 \\\hline \text { Supplies } & 1,200 \\\hline \text { Unearned revenue } & 2,200 \\\hline \text { Prepaid rent } & 4,600 \\\hline \text { Mortgage payable (due 2023) } & 5,500 \\\hline \text { Equipment } & 22,000 \\\hline \text { J. Huma, Capital } & 19,900 \\\hline \text { Accum. amort.-equipment } & 6,100 \\\hline \text { Service revenue } & 29,000 \\\hline \text { Salary expense } & 8,000 \\\hline \text { Furniture } & 12,000 \\\hline \text { Accum. amort. -furniture } & 4,000 \\\hline \text { Amortization expense } & 6,800 \\\hline \text { Utilities expense } & 4,300 \\\hline \text { Rent expense } & 5,600 \\\hline\end{array}$$
-Referring to Table 4-4, current assets and total assets are:

• A)$17,700 and $46,200, respectively.
• B)$17,700 and $41,600, respectively.
• C)$22,300 and $46,200, respectively.
• D)$22,300 and $56,300, respectively.

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Definitions:

Miserliness

An excessive desire to save money or spend as little as possible; extreme parsimony or stinginess.

Rationalization

A coping technique where disputable actions or emotions are rationalized in an apparently logical way to evade the actual reason behind them.

Financial Aid

Any form of funding that assists students in paying for their education, typically coming from various sources such as scholarships, grants, and loans.

Defense Mechanism

Mental tactics employed subconsciously to shield an individual from the distress caused by thoughts or emotions that are not acceptable.