Munoz Company had the following account balances as of December 31.
Cash $15,000
Equipment $7,000
Accounts Payable $4,200
R. Munoz, Capital $10,300
R. Munoz, Drawing $3,000
Income from Services $18,500
Rent Expense $6,000
Salaries Expense $2,000
What is the credit balance of the trial balance?
A) $28,800
B) $33,000
C) $25,500
D) $17,800

Question

Munoz Company had the following account balances as of December 31.
 Cash $15,000
Equipment $7,000
Accounts Payable $4,200
R. Munoz, Capital $10,300
R. Munoz, Drawing $3,000
Income from Services $18,500
Rent Expense $6,000
Salaries Expense $2,000
What is the credit balance of the trial balance?
A) $28,800
B) $33,000
C) $25,500
D) $17,800

Quizplus · Accepted Answer

The credit balance of the trial balance includes Accounts Payable, R. Munoz, Capital, and Income from Services, which sum up to $4,200 + $10,300 + $18,500 = $33,000.

Munoz Company Had the Following Account Balances as of December