Jelly's Grocery Store showed the following account balances at the end of 2020: If all of the accounts have normal balances, what is the total of the trial balance?
A) $86,000
B) $119,600
C) $127,600
D) $186,600
E) $255,500

Question

Jelly's Grocery Store showed the following account balances at the end of 2020:  If all of the accounts have normal balances, what is the total of the trial balance?
A) $86,000 
B) $119,600 
C) $127,600 
D) $186,600 
E) $255,500

Quizplus · Accepted Answer

To find the total of the trial balance, we simply add up all the account balances. Adding up the balances in the given account numbers, we get:

$50,000 (Cash) + $26,000 (Accounts Receivable) + $6,000 (Supplies) + $3,600 (Prepaid Rent) - $7,000 (Accounts Payable) + $49,000 (Common Stock) + $400 (Dividends) + $700 (Service Revenue) - $1,100 (Rent Expense) - $800 (Salaries Expense) - $200 (Depreciation Expense) = $127,600

Therefore, the correct answer is C ($127,600).

Jelly's Grocery Store Showed the Following Account Balances at the End