1.

What is the amount of total debits on the post-closing trial balance for this company?

a. $224

b. $237

c. $248

d. $289

e. none of these answers are correct

2.

What is the balance in Retained Earnings after posting closing entries at December 31 for this company?

a. $237

b. none of these answers are correct

c. $108

d. $4

e. $97

3.

Closing entries are necessary for

a. permanent or real accounts only.

b. permanent accounts only.

c. none of these answers are correct

d. temporary accounts only.

e. both permanent and temporary accounts.

4.

What is the balance that should be reported for stockholders' equity at December 31, 2013?

a. None of these answers are correct.

b. $139,000

c. $105,000

d. $125,000

e. $91,000