Question
Concord incorporation reports the following ledger account balances at June 30, 2022: Cash $1,932 Accounts receivable 2,818 Inventory 3,864 Prepaid rent 86 Equipment 300 Accumulated
Concord incorporation reports the following ledger account balances at June 30, 2022:
Cash $1,932
Accounts receivable 2,818
Inventory 3,864
Prepaid rent 86
Equipment 300
Accumulated depreciation-equipment 52
Accounts payable 82
Unearned rent revenue 122
Common stock 206
Retained earnings 6,610
Service revenue 368
Interest revenue 56
Salaries and wages expense 160
Insurance expense 66
Assuming that all of the accounts have normal balances, what are total credits on the company's trial balance at June 30, 2022?
Step by Step Solution
3.33 Rating (150 Votes )
There are 3 Steps involved in it
Step: 1
Accumulated depreciationEquipment...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started