The following are the current month's balances for Toys Galore before preparing the trial balance.

What amount should be shown for R.Schwartz,Capital on the trial balance?

Question

The following are the current month's balances for Toys Galore before preparing the trial balance.

What amount should be shown for R.Schwartz,Capital on the trial balance?

Quizplus · Accepted Answer

B)In a trial balance,the total of debits must match the total of credits.Therefore,the balance of the Capital account can be determined by totaling the debit and the credit balances and calculating the balancing amount.
 11ea8a42_4f1a_c391_8b44_b9ff747d726e_TB5024_00 Owner,Capital = $45,500 - $14,500 = $31,000

The Following Are the Current Month's Balances for Toys Galore