Based on the following information, what would be the total on the Credit side of a post- closing trial balance, assuming all accounts have a normal balance?
A) $61,516
B) $74,671
C) $74,800
D) $87,955
E) $81,263

Question

Based on the following information, what would be the total on the Credit side of a post- closing trial balance, assuming all accounts have a normal balance? 
A) $61,516 
B) $74,671 
C) $74,800 
D) $87,955 
E) $81,263

Quizplus · Accepted Answer

To find the total on the Credit side of a post-closing trial balance, we need to look at the accounts that have a normal credit balance. These include:
- Accounts Receivable: $14,200
- Allowance for Doubtful Accounts: $1,475
- Inventory: $32,875
- Prepaid Insurance: $2,000
- Equipment: $41,250
- Accumulated Depreciation: $13,000
- Accounts Payable: $11,600
- Salaries Payable: $1,400
Adding all of these amounts together, we get a total of $74,800. Therefore, the best choice is C.

Based on the Following Information, What Would Be the Total