Question
Barnes Company showed the following balances at the end of its first year: Cash $14,000 Prepaid insurance 700 Accounts receivable 3,500 Accounts payable 2,800 Notes
Barnes Company showed the following balances at the end of its first year:
| Cash | $14,000 |
| Prepaid insurance | 700 |
| Accounts receivable | 3,500 |
| Accounts payable | 2,800 |
| Notes payable | 4,200 |
| Common stock | 5,400 |
| Dividends | 700 |
| Revenues | 24,000 |
| Expenses | 17,500 |
What did Barnes Company show as total credits on its trial balance?
a. $37,100
b. $36,400
c. $35,700
d. $37,800
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
78025915, 978-1259115400, 1259115402, 978-0078025914
