The following is a random list of the adjusted account balances of Wyoming Company as of the end of the current accounting period:

What is the total of the credit account balances that will be shown on the adjusted trial balance?
A)$112,200
B)$114,200
C)$116,200
D)$79,800

Question

The following is a random list of the adjusted account balances of Wyoming Company as of the end of the current accounting period:

What is the total of the credit account balances that will be shown on the adjusted trial balance?
A)$112,200 
B)$114,200 
C)$116,200 
D)$79,800

Quizplus · Accepted Answer

Credit balances = Accounts payable of $7,400 + Service revenue of $34,400 + Retained earnings of $32,400 + Common stock of $40,000 = $114,200
To check:
Debit balances = Cash of $34,000 + Land of $48,000 + Accounts receivable of $9,400 + Operating expenses of $22,800 = $114,200

The Following Is a Random List of the Adjusted Account