Answered: Conner Corporation's adjusted trial…

Name: Conner Corporation's adjusted trial balance included the following ite
Uploaded: 2024-03-04T10:43:15.000Z
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Description: Conner Corporation's adjusted trial balance included the following items: Accounts payable ($65,000), Accounts receivable ($45,000), Capital stock ($100,000), Cash ($50,000), Dividends ($10,000), Goodwill ($47,000), Interest expense ($4,000), Interes

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Conner Corporation's adjusted trial balance included the following items: Accounts payable ($65,000), Accounts receivable ($45,000), Capital stock ($100,000), Cash ($50,000), Dividends ($10,000), Goodwill ($47,000), Interest expense ($4,000), Interest payable ($2,000), Inventory ($32,000), Notes payable ($80,000), Prepaid expenses ($5,000), Property, plant & equipment ($123,000), Retained earnings ($46,000), Rent expense ($18,000), Revenues ($101,000), and Salary expense ($60,000). What would be the total credits on the trial balance?

		$394,000
		$347,000
		None of these
		$384,000

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