B Credit Debit $14,000 27,000 15,000 2,500 15,000 $3,000 A 1 Trial Balance 2 December 31 3 4 Cash 5 Accounts receivable 6 Merchandise inventory 7 Prepaid insurance 8 Store equipment 9 Accumulated depreciation - Store equipment 10 Office equipment 11 Accumulated depreciation - Office equipment 12 Accounts payable 13 Notes payable - long term 14 Owner, Capital 15 Owner, Withdrawals 16 Sales 17 Sales discounts 18 Sales returns and allowances 19 Cost of goods sold 20 Selling expenses 21 General and administrative expenses 22 Interest expense 25,000 5,000 9,000 25,000 26,000 3,000 90,000 1,800 2,200 35,000 11,000 6,000 500 Which formula correctly calculates net sales? Multiple Choice 2+C16-SUM(B17:822) 2+C16-SUM(B17:318) =+C16-SUM(B17 B18) =SUM(B17 B181-C16 Which formula correctly calculates gross profit? Multiple Choice O 3+C16-SUM(B17 B22) =+C16-SUM(B17 B19) o ESUM(B17 B19) C16 =-16 SUMB 319 Which formula correctly calculates total assets? Multiple Choice ed =SUM(B4:B10)-SUM(C4.C11) ok 10 ances =SUM(B4.810) ESUM(B4 B10)-C9+011 =SUMB4B22-SUMI012 (16) Which formula does NOT correctly calculate total equity? Multiple Choice O =SUM(B4:B10)-B9-B11-B12-B13 O =+C14+C16-B15-B17-818-819-820-821-B22 =-B23-SUM(C9 C13) =SUMB4B10 SUMI04015)