Your study partner is having trouble getting total debits to equal total credits in the trial balance. Trial Balance Accounts De
bit Credit Cash $ 7,300 Accounts Receivable $ 2,100 Equipment 10,400 Accounts Payable 3,900 Deferred Revenue 1,100 Common Stock 11,000 Retained Earnings 3,900 Dividends 600 Service Revenue 4,500 Salaries Expense 3,200 Utilities Expense 800 Total $ 36,400 $ 12,400 Prepare a corrected trial balance by placing each account balance in the correct debit or credit column.
1 answer:
Answer:
We have a total Debit and credit amount of $24,400
Explanation
Attached herewith is the adjusted trial balance of the company. In preparation of trial balance, we must consider na nature of the accounts to be recorded. All assets account with normal balances should be posted as debits. All Liabilities and equities accounts with normal balances should be posted on credit side. Revenue is on credit side and all expenses on the other hand is posted on debit side.
You might be interested in
Answer and Explanation:
The best type of investment income that is earned is tax-exempt that depend upon the commission only also the income that is spent should be bigger for the recipient
And at the time of seeking advice, the fee only should be likely to offer an unbiased advice because no other extra financial gains should be advised for an investment made except this professional fee
While the other options are ignored as they contain some interest regarding a commission for advising to their clients
Answer:
50% share.
Explanation:
Given:
There are only three firms in a market.
The largest firm has sales of $500 million.
The second-largest has sales of $300 million.
The smallest has sales of $200 million.
Question asked:
The market share of the largest firm is ?
Solution:
As we know:
Total sales of the largest company = $500 million.
Total sales of the market = Sales of largest firm + Sales of second largest firm+ Sales of smallest firm
Total sales of the market = $500 million + $300 million + $200 million
= $1000 million
Therefore, the market share of the largest firm is 50%.