Chik Chik Company showed the following balances at the end of its first year:
What did Chik Chik Company show as total credits on its trial balance?
A) $51,400
B) $60,800
C) $62,200
D) $70,200
Correct Answer:
Verified
Q40: The transactions of the Liberty Belle Store
Q41: Under the double-entry system, revenues must always
Q42: After a transaction has been posted, the
Q43: Credits
A)decrease both assets and liabilities.
B)decrease assets and
Q44: Assets normally show
A)credit balances.
B)debit balances.
C)debit and credit
Q46: The usual sequence of steps in the
Q47: An accounting record of the balances of
Q48: The explanation column of the general ledger
A)is
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Q50: Prepare a trial balance from the ledger
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