Blitz Pty Ltd has the following accounts and balances listed in its trial balance. Assuming all...
Blitz Pty Ltd has the following accounts and balances listed in its trial balance. Assuming all transactions have been entered correctly, the total debits and credits in the trial balance equal:
Capital $15 000
Cash 2 000
Accounts payable 7 000
Inventory 5 500
Accounts receivable 9 500
Property, plant and equipment 15 000
Loan payable 24 000
Motor vehicles 14 000
a. 61000
b. 31000
c. 43500
d. 46000
Homework Answers
Option (d) $ 46,000
Trial Balance is as follows:
| Debit | Credit | |
| Capital | 15000 | |
| Cash | 2000 | |
| Accounts payable | 7000 | |
| Inventory | 5500 | |
| Accounts receivable | 9500 | |
| Property, plant and equipment | 15000 | |
| Loan payable | 24000 | |
| Motor vehicles | 14000 | |
| Total | 46000 | 46000 |
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