Rusthe Company showed the following balances at the end of its first year: Cash $ 17,000 Prepaid insurance 1,400 Accounts receivable 7,000 Accounts payable 5,600 Notes payable 8,400 Share capital-ordinary 2,800 Dividends 1,400 Revenues 45,000 Expenses 35,000 What did Rusthe Company show as total credits on its trial balance? O a. $61,800 O b. $64,600 c. $63,200 O d. $60,400

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Rusthe Company showed the following balances at
the end of its first year:
Cash
$ 17,000
Prepaid insurance
1,400
Accounts receivable
7,000
Accounts payable
5,600
Notes payable
8,400
Share capital-ordinary
2,800
Dividends
1,400
Revenues
45,000
Expenses
35,000
What did Rusthe Company show as total credits on
its trial balance?
a. $61,800
O b. $64,600
O c. $63,200
O d. $60,400
Transcribed Image Text:Rusthe Company showed the following balances at the end of its first year: Cash $ 17,000 Prepaid insurance 1,400 Accounts receivable 7,000 Accounts payable 5,600 Notes payable 8,400 Share capital-ordinary 2,800 Dividends 1,400 Revenues 45,000 Expenses 35,000 What did Rusthe Company show as total credits on its trial balance? a. $61,800 O b. $64,600 O c. $63,200 O d. $60,400
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