A companys preclosing trial balance shows the following accounts and amounts: a. Calculate total assets on the
Question:
A company’s preclosing trial balance shows the following accounts and amounts:
a. Calculate total assets on the balance sheet.
b. Calculate total liabilities on the balance sheet.
c. Calculate the total of all accounts with debit balances.
d. Calculate the total revenues on the income statement.
e. Calculate the total of all accounts with credit balances.
Cash... Property, plant, and equipment.. Interest payable.. Service revenues. Notes payable. Common stock.. Interest expense.. Interest receivable.... Wages expense.. Accounts receivable.... Retained earnings... Interest revenue. Accounts payable. $ 21,000 300,000 8,000 76,000 80,000 60,000 12,000 3,000 28,000 36,000 140,000 14,000 22,000
Step by Step Answer:
a Cash 21000 Property plant and equipment 300000 Interest receivable 3000 Accounts receivable 36000 ...View the full answer
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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