Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cash 15,000 Accounts payable 15,000 Accounts receivable 35,000 Note payable 25,000 Supplies 4,000 Mortgage payable 85,000 Prepaid insurance 3,000 Paid-in-capital 195,000 Other prepaid expense 1,000

Cash 15,000 Accounts payable 15,000 Accounts receivable 35,000 Note payable 25,000 Supplies 4,000 Mortgage payable 85,000 Prepaid insurance 3,000 Paid-in-capital 195,000 Other prepaid expense 1,000 Capital withdrawals 22,000 Equipment 65,000 Revenues 190,000 Buildings 140,000 Salaries expense 73,000 Land 40,000 Rent expense 65,000 Patents 10,000 Utilities expense 37,000

Assuming that all of these accounts have normal balances, what is the total of the trial balance?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

13th edition

978-1-119-4110, 1119411483, 9781119411017, 978-1119411482

More Books

Students also viewed these Accounting questions

Question

A greater tendency to create winwin situations.

Answered: 1 week ago