Information related to the Berkley Company for the calendar year 2014 follows: Liabilities, December 31, 2010 $100 Assets, December 31, 2010 700 Dividends distributed during 2010 90 Liabilities, December 31, 2009 250 Assets, December 31, 2009 350 Assuming no capital stock was issued during 2014, the net income earned by the Berkley Company during 2014 was a $110 b. $200 c. $260 d. $290 9. The basic purpose of a trial balance is to list all of the accounts in the general ledger b. list all of the accounts in the general ledger that have a balance be sure that all journal entries have been recorded d. verify that the total credits equal the total dobits 3 C. What relationship exists between the general journal and the general ledger? 2. The general ledger accounts contain the same information as in the general journal, justi a different format b. The balances in the general ledger will always equal those in the general Journal After all postings from the general journal are complete the debit balance in the peneral ledger will rarely equal the credit balances d. The number of accounts in the general journal will always be larger than the number of accounts in the general ledger. A prepaid expense is payment received by the company is advance for the future sale of inventory performance of services alm of goods or services purchased by the company for we in its operations but not fully consumed by the end of the coming period an experime that has been incurred during the accounting period but has been the or recorded dan halben carned by the company during the accounting period borbe neither received nor recorded The Oliver Construction Company received 18.000 m Now 1, 2014 and credit The Dec. 2014, would code 16.000