Question

Chaco Company’s trial was in balance at the end of the period and showed the following accounts: Accounts Payable 25,200 Cash 40,200 Common Stock 21,200 Equipment 10,200 Land 42,000 Notes Payable 46,000 What is the balance of the credit column on Chaco’s trial balance?

Answer 1

Answer:

$92,400

Explanation:

Balance of the credit column on Chaco’s trial balance.

The Total credit column balance will be:

Accounts payable $25,200

Common Stock $21,200

Notes payable $46,000

We are going to add them up

Hence:

Total credit balance =

$25,200 + $21,200 + $46,000

Total credit balance = $92,400