21. Osama Company showed the following balances at the end of its first year: Cash $ 14,000 Prepaid insurance 1,400 Accounts receivable 7,000 Accounts payable 5,600 Notes payable 8,400 Share capital-ordinary 2,800 Dividends 1,400 Revenues 42,000 Expenses 35,000 What did Osama Company show as total credits on its trial balance? a.$60,200. b. $58,800. c. $57,400. d. $61,600.
21. Osama Company showed the following balances at the end of its first year: Cash $ 14,000 Prepaid insurance 1,400 Accounts receivable 7,000 Accounts payable 5,600 Notes payable 8,400 Share capital-ordinary 2,800 Dividends 1,400 Revenues 42,000 Expenses 35,000 What did Osama Company show as total credits on its trial balance? a.$60,200. b. $58,800. c. $57,400. d. $61,600.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.1.2MBA
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