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

question 105

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 liabilities and total liabilities are:

• A)$14,300 and $5,500 respectively.
• B)$14,300 and $19,800 respectively.
• C)$14,300 and $22,000 respectively.
• D)$16,500 and $22,000 respectively.

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Definitions:

Wage Rate

The amount of compensation an employee receives per unit of time or per task completed, typically expressed in terms of dollars per hour.

Marginal Revenue Product

The supplementary income derived from the deployment of an extra unit of a production resource, like manpower or assets.

Rent

A regular payment made by a tenant to an owner for the use of the owner's property or land.

Complementary Resource

An asset or input that increases the utility or productivity of another asset or input when used in conjunction.