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Ruth Company showed the following balances at the end of its first year.
Cash $7000
Prepaid Insurance $700
Accounts Receivable $3500
Accounts Payable $2800
Notes Payable $4200
Denton Capital $1400
Denton Drawing $700
Revenues $21000
Expenses $17500
What did Ruth Company show as total credits on its trial balance?
$30,800
$30,100
$28,700
$29,400

Respuesta :

Answer:Option $29,400

Explanation:

The credit items that will be shown on the trial balance are as follows

Accounts payable       2800

Notes Payable              4200

Denton Capital              1400

Revenues                     21000

Total Credits in             29400

trial balance

In a trial balance the total debit and credit items should balance. Trial balance has all the items that are posted in the general ledger account. It is a book keeping work sheet that contains the balance of all ledgers. At end of reporting time trial balance is prepared by the company.

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