Homework Help is Here – Start Your Trial Now!
Business
Accounting
The post-closing trial balance of Bendit Traders on 29 February 2016 included the following balances: $ Bank (CR balance) 60,000 Debtors control 80,000 Creditors control 100,000 Accrued expenses 14,000 Petty cash 2,000 Accrued income 6,000 Income received in advance 4,000 Prepaid expenses 8,000 Current portion of long-term borrowings 40,000 The current liabilities of Bendit Traders on 29 February 2016 amount to: A. $218,000 B. $158,000 C. $178,000 D. None of the above

The post-closing trial balance of Bendit Traders on 29 February 2016 included the following balances: $ Bank (CR balance) 60,000 Debtors control 80,000 Creditors control 100,000 Accrued expenses 14,000 Petty cash 2,000 Accrued income 6,000 Income received in advance 4,000 Prepaid expenses 8,000 Current portion of long-term borrowings 40,000 The current liabilities of Bendit Traders on 29 February 2016 amount to: A. $218,000 B. $158,000 C. $178,000 D. None of the above

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Want Answer please

The post-closing trial balance of Bendit Traders on 29 February 2016 included the following balances: $ Bank (CR balance) 60,000 Debtors control 80,000 Creditors control 100,000 Accrued expenses 14,000 Petty cash 2,000 Accrued income 6,000 Income received in advance 4,000 Prepaid expenses 8,000 Current portion of long-term borrowings 40,000 The current liabilities of Bendit Traders on 29 February 2016 amount to: A. $218,000 B. $158,000 C. $178,000 D. None of the above
Transcribed Image Text:The post-closing trial balance of Bendit Traders on 29 February 2016 included the following balances: $ Bank (CR balance) 60,000 Debtors control 80,000 Creditors control 100,000 Accrued expenses 14,000 Petty cash 2,000 Accrued income 6,000 Income received in advance 4,000 Prepaid expenses 8,000 Current portion of long-term borrowings 40,000 The current liabilities of Bendit Traders on 29 February 2016 amount to: A. $218,000 B. $158,000 C. $178,000 D. None of the above
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS