Question

1) Nelson Company began operations on December 1, Year 1. The following transactions and adjustments were recorded in December and posted to the company’s ledger accounts:
5) Purchased $500 of supplies on account to be used in January

1.1) Acquired $3,800 cash from the issue of common stock to its stockholders
2.2) Provided services on account for $3,300
3.3) Paid $1,900 cash for land
4.4) Owed $1,400 of salaries expenses to employees for work done in December that will be paid during January
5.6) Collected $1,700 from customers

What is the total of the debit account balances that will be reported on the company's adjusted trial balance at December 31, Year 1?


A) $6,900
B) $9,000
C) $5,200
D) $3,500

Answer 1

The total of the debit account balances that will be reported on the company's adjusted trial balance at December 31, Year 1 is B) $9,000

Nelson Company Adjusted trial balance at December 31, Year 1

Debit side

Cash  $3,600

($3,800+$1,700-$1,900)

Account Receiveble $1,600

($3,300-$1,700)

Supplies $500

Land $1,900

Salaries expenses  $1,400

Total debit balance $9,000

Credit side

Account payable $500

Salaries payable $1,400

Common stock $3,800

Service revenue $3,300

Total Credit balance $9,000

Inconclusion The total of the debit account balances that will be reported on the company's adjusted trial balance at December 31, Year 1 is B) $9,000

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