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Dafna1 [17]
3 years ago
11

Wilson Trucking, Inc. reports these account balances at January 1, 2015 (shown in alphabetical order):Accounts Payable $220,000A

ccounts Receivable $200,000Buildings $480,000Capital Stock $680,000Cash $160,000Equipment $320,000Land $400,000Notes Payable $520,000Retained Earnings $140,000On January 5, Wilson Trucking collected $175,000 of its accounts receivable, paid $150,000 on its accounts payable, and paid $11,000 on its note payable.Refer to the information above. In a trial balance prepared on January 6, 2015, the total of the credit column is:__________.(a) $1,721,000(b) $1,350,000(c) $1,399,000(d) $1,560,000.
Business
1 answer:
dexar [7]3 years ago
6 0

Answer:

The correct option is C,$ 1,399,000

Explanation:

The items on the credit column would be the sum of  accounts payable, capital stock, notes payable and retained earnings  minus the payment of accounts payable and notes payable

Accounts payable is $220,000

capital stock is $680,000

notes payable is $520,000

retained earnings is $140,000

payment in respect of accounts payable is $150,000

payment in respect of notes payable is $11,000

total of credit column=$220,000+$680,000+$520,000+$140,000-$150,000-$11,000=$ 1,399,000.00  

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Answer:

The correct answer is letter "B": Consumer's buying power.

Explanation:

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In the example, Amelia's buying power was reduced since she forgot her credit card at home being that the reason why she purchased lesser clothing than usual.

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3 years ago
What are the concerns in cash management, and how does cash management iss help financial managers?
PtichkaEL [24]

The cash management can help financial managers in the  collecting and managing cash flows from the activities of the firm.

<h3>How can cash management can help financial managers ?</h3>

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4 0
2 years ago
Sharon Corporation redeems 20 shares of Kevin's common stock. Kevin directly owned 50 shares prior to the redemption. Kevin is a
alexdok [17]

Answer:

75 shares

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4 0
3 years ago
List THREE common aptitudes, attitudes, and skills of personal care services workers.
ANEK [815]

Answer:

Good communication skills

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Explanation:

4 0
2 years ago
A record of the increases and decreases in a specific asset, liability, equity, revenue, or expense is a(n)________.
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Answer:

d. account This answer is correct

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