Question

Current Attempt in Progress Metlock, Inc.s trial balance reported the following balances at the end of its first year: Cash
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Metlock inc.

Trail balance - Total credits

= Accounts payable + Notes payable + Common stock + Revenue

= $ 2,520 + $ 3,780 + $ 4,860 + $ 26,100

= $ 37,260

Total credits of trail balance of Metlock inc. - $ 37,260

Other remaining account shows debit balance.

Hence option "D" is correct.

Add a comment
Know the answer?
Add Answer to:
Current Attempt in Progress Metlock, Inc.'s trial balance reported the following balances at the end of...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Multiple Choice Question 141 Tamarisk, Inc.'s trial balance reported the following balances at the end of...

    Multiple Choice Question 141 Tamarisk, Inc.'s trial balance reported the following balances at the end of its first year: Cash Prepaid insurance Accounts receivable Accounts payable Notes payable Common stock Dividends Revenues Expenses $14560 730 3640 2910 4370 5620 730 30160 18200 What amount did Tamarisk, Inc.'s trial balance show as total credits? $43060 $42330 $44520 $43790

  • Nash's Trading Post, LLC's trial balance reported the following balances at the end of its first...

    Nash's Trading Post, LLC's trial balance reported the following balances at the end of its first year: Cash $10360 Prepaid insurance 520 Accounts receivable 2590 Accounts payable 2070 Notes payable 3110 Common stock 4000 Dividends 520 Revenues 21460 Expenses 12950 What amount did Nash's Trading Post, LLC's trial balance show as total credits?

  • Question 6 --/5 View Policies Current Attempt in Progress The following trial balance of Metlock Company...

    Question 6 --/5 View Policies Current Attempt in Progress The following trial balance of Metlock Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $92. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2.640 and $6.790, respectively. (d) A debit...

  • Current Attempt in Progress The adjusted trial balance for Vaughn Manufacturing at the end of the...

    Current Attempt in Progress The adjusted trial balance for Vaughn Manufacturing at the end of the current year, 2021, contained the following accounts. 5-year Bonds Payable 8% Interest Payable Premium on Bonds Payable Notes Payable (3 months.) Notes Payable (5 yr.) Mortgage Payable ($15000 due currently) Salaries and wages Payable Income Taxes Payable (due 3/15 of 2022) $3000000 48000 99000 42000 165000 198000 20000 23000 The total long-term liabilities reported on the balance sheet are O $3363000. O $3348000 $3447000....

  • Question 29 View Policies Current Attempt in Progress Novak Corp. showed the following balances at the...

    Question 29 View Policies Current Attempt in Progress Novak Corp. showed the following balances at the end of its first year: Cash Prepaid insurance Accounts receivable Accounts payable Notes payable Common stock Dividends Revenues Expenses $17080 850 4270 3420 5120 6590 850 35380 21350 What amount did Novak Corp.show as total credits? $50510 $51360 $52220 $49650

  • Question 7 of 18 > Current Attempt in Progress Sheffield Company showed the following balance at...

    Question 7 of 18 > Current Attempt in Progress Sheffield Company showed the following balance at the end of the year Cach $3920 Prepaid insurance 2010 Accounts receivable 5100 4060 Accounts payable Notes payable 6020 Owner's Capital 2060 Owner's Dividends 910 Revenue 31800 Expenses 25700 What did Sheffield Company show as total credits on its trial balance? $40930 $12080 543940 544210 Attempts of used Sve for later

  • Current Attempt in Progress In 2022, Bramble Corp. had cash receipts of $54880 and cash disbursements...

    Current Attempt in Progress In 2022, Bramble Corp. had cash receipts of $54880 and cash disbursements of $31360. Bramble's cash balance at December 31, 2022 was $76440. What was Bramble's January 1, 2022 cash balance? O $52920 O $99960 O $68600 O $107800 View Policies Current Attempt in Progress In 2022, Sheridan Company had cash receipts of $29400, including additional owner investments of $10,000, and cash disbursements of $16800. Sheridan Company purchased equipment of $12,000 on account. Sheridan's cash balance...

  • III View Policies Current Attempt in Progress The ledger account balances for Ringbird, Inc. at December...

    III View Policies Current Attempt in Progress The ledger account balances for Ringbird, Inc. at December 31, 2022 are as follows Cash $480 672 98 200 4700 730 Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense 426 1310 1510 5000 2600 1660 If all accounts have normal balances, what would be total debits on the trial balance at December 31, 2022? $7906 $8250 0 $8334...

  • Current Attempt in Progress The trial balance of Woods Company includes the following balance sheet accounts....

    Current Attempt in Progress The trial balance of Woods Company includes the following balance sheet accounts. Identify the accounts that might require adjustment. For each account that requires adjustment indicate (1) the type of adjusting entry and (2) the related account in the adjusting entry (1) Type of Adjustment (2) Related Account a, Account Accounts Receivable. Prepaid Insurance b Equipment C d Accumulated Depreciation-Equipment. e. Notes Payable C . Interest Payable. 8 Unearned Service Revenue e Textbook and Media Save...

  • Current Attempt in Progress The following is an alphabetical list of accounts and balances for J....

    Current Attempt in Progress The following is an alphabetical list of accounts and balances for J. Saggit, proprietorship, at lune 30, 20211 Accounts Payable Accounts Receivable Cash Equipment Interest Expense J.Saggit, Capital J.Saggit, Drawings Land $13,300 10,850 8,500 19,350 530 29,700 12,700 67,800 Notes Payable Prepaid Expenses Rent Expense Salaries Expense Service Revenue Supplies Utilities Expense $31,800 3,200 4,800 8,000 66.810 5,300 580 Prepare a trial balance at June 30. Prepare a trial balance at June 30. J. SAGGIT Trial...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT