Question

16 Nelson Company began operations on December 1, Year 1. The following transactions and adjustments were recorded in December and posted to the company's ledger accounts: 5) Purchased $650 of supplies on account to be used in January 1.17 points 1) Acquired $4,400 cash from the issue of common stock to its stockholders 2) Provided services on account for $3,900 3) Paid $2,200 cash for land 4) Owed $1,700 of salaries expenses to employees for work done in December that will be paid during January 6) Collected $2,000 from customers Skipped What is the total of the debit account balances that will be reported on the company's adjusted trial balance at December 31, Year 1? eBook References Multiple Choice O $10,650 O $8,100 $4,100 O $6,100 O

Answer 1

Supplies Account Amount Credit Cash Account Amount Credit Debit Amount Debit Amount Accounts Payable $650 By bal C/f $650 Land $2,200 Common stock $4,400 Accounts Receivable $2,000 Bal c/f $4,200 Debit To bal C/f Common Stock Amount Credit $4,400 Cash Amount $4,400 Debit To balc/f Service Revenue Amount Credit Amount $3,900 Accounts Receivable $3,900 Trail balance Debit Cash Land Amount Credit $2,200 By bal C/f Amount $2,200 Account Titles Cash Accounts receivable Supplies Land Accounts Payable Salaries payable Common Stock Service revenue Salaries Expense Debit Credit 4,200 1,900 650 2,200 650 1,700 4,400 3,900 1,700 Debit Salaries Payable Salaries Expense Amount Credit $1,700 By bal C/f Amount $1,700 Debit To bal C/f Salaries Payable Amount Credit $1,700 Salaries Expense Amount $1,700 10,650 10,650 Accounts Receivable Debit Amount Credit To Service Revenue $3,900 Cash by bal c/f Amount $2,000 $1,900 So, The total debits in the Trail balance equals = $10,650 Debit To bal C/f Accounts Payable Amount Credit $650 Supplies Amount $650

Total of the debit account balances that will be reported on the company's adjusted trail balance is $10,650

Option ' 1 ' is correct