Newcomb Company began operations on December 1, 2013. The following transactions were recorded in December: 1) The business received $3,000 cash from the issuance of common stock to its stockholders.
2) Provided services on account for $2,500.
3) Paid $1,500 cash for land.
4) Accrued $1,000 of salaries expenses.
5) Purchased $300 of supplies on account to be used in January.
6) Collected $1,300 from customers.
At December 31, 2011, the total debits in the company's adjusted trial balance would be

Question

Quizplus · Accepted Answer

Debit balances: $2,800 cash + $1,200 accts. receivable + $1,500 land + $1,000 salaries expense + $300 supplies = $6,800

Newcomb Company Began Operations on December 1, 2013