Below is a list of selected account balances at the end of the accounting period in 2019, but before the adjusting entries. All accounts are on their normal side. Accumulated Depreciation- Buildings 80,000 Accounts payable 50,000 Notes Payable: Due August 14, 2022 30,000 Notes Payable: Due May 31, 2020 90,000 Bonds payable 180,000 Common shares 60,000 Retained earnings, January 1, 2019 50000 Sales 241,000 Cash 52,000 Accounts receivable 70,000 Inventory 160,000 Buildings 295,000 Dividends 70000 Salaries expense 85,000 Cost of goods sold 135,000 What is the total sum of credits?
Below is a list of selected account balances at the end of the accounting period in 2019, but before the adjusting entries. All accounts are on their normal side. Accumulated Depreciation- Buildings 80,000 Accounts payable 50,000 Notes Payable: Due August 14, 2022 30,000 Notes Payable: Due May 31, 2020 90,000 Bonds payable 180,000 Common shares 60,000 Retained earnings, January 1, 2019 50000 Sales 241,000 Cash 52,000 Accounts receivable 70,000 Inventory 160,000 Buildings 295,000 Dividends 70000 Salaries expense 85,000 Cost of goods sold 135,000 What is the total sum of credits?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Below is a list of selected account balances at the end of the accounting period in 2019, but before the
| 80,000 | |
| Accounts payable | 50,000 |
| Notes Payable: Due August 14, 2022 | 30,000 |
| Notes Payable: Due May 31, 2020 | 90,000 |
| Bonds payable | 180,000 |
| Common shares | 60,000 |
| 50000 | |
| Sales | 241,000 |
| Cash | 52,000 |
| 70,000 | |
| Inventory | 160,000 |
| Buildings | 295,000 |
| Dividends | 70000 |
| Salaries expense | 85,000 |
| Cost of goods sold | 135,000 |
What is the total sum of credits?
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