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?
$\begin{array}{lrlr}
\text { Cash } & \$ 6,754 & \text { Dividends } & \$ 2,000 \
\text { Accounts receivable } & 13,733 & \text { Consulting fees earned } & 13,718 \
\text { Office supplies } & 2,625 & \text { Rent expense } & 3,673 \
\text { Land } & 37,153 & \text { Salaries expense } & 6,64 \
\text { Office equipment } & 14,535 & \text { Telephone expense } & 560 \
\text { Accounts payable } & 6,463 & \text { Miscellaneous expense } & 280 \
\text { Common stock } & 54,490 & \text { Retained Earnings } & ?
\end{array}$

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?
$\begin{array}{lrlr}
\text { Cash } & \$ 6,754 & \text { Dividends } & \$ 2,000 \
\text { Accounts receivable } & 13,733 & \text { Consulting fees earned } & 13,718 \
\text { Office supplies } & 2,625 & \text { Rent expense } & 3,673 \
\text { Land } & 37,153 & \text { Salaries expense } & 6,64 \
\text { Office equipment } & 14,535 & \text { Telephone expense } & 560 \
\text { Accounts payable } & 6,463 & \text { Miscellaneous expense } & 280 \
\text { Common stock } & 54,490 & \text { Retained Earnings } & ?
\end{array}$

A) $61,516
B) $74,671
C) $74,800
D) $87,955
E) $81,263

Quizplus · Accepted Answer

The total on the Credit side of a post-closing trial balance includes Accounts Payable ($6,463), Common Stock ($54,490), and Consulting Fees Earned ($13,718), which sums up to $74,671. Retained Earnings is adjusted to balance the trial balance, but it does not affect the total credits directly in this context.

Based on the Following Information,what Would Be the Total on the Credit