Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. )DebitCreditCash 3,200 Accounts Receivable1,800Prepaid Insurance2,000Land3,000Accounts Payable1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals? $13,900 The total of the assets is ___________________.Group of answer choices$5,000$10,000$3,200$7,000

In simple terms, Assets are resources of an entity which arises from past event.

Answered: Use the following Unadjusted Trial…

Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. )

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter10: Payroll Register (pr)

Section: Chapter Questions

Problem 5R

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Question

Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. )

	Debit	Credit
Cash	3,200
Accounts Receivable	1,800
Prepaid Insurance	2,000
Land	3,000
Accounts Payable		1,500
J.B. Monroe, Capital		8,800
J.B. Monroe, Drawing	1,200
Fees Earned		3,600
Wages Expense	1,400
Insurance Expense	1,300
Totals	?	$13,900

The total of the assets is ___________________.

Group of answer choices

$5,000

$10,000

$3,200

$7,000

Definition Definition Statement that shows the ending balance of all the ledger accounts of a firm at the end of the accounting period. The trial balance is prepared after all the entries have been posted to the ledger accounts and assists in preparing the final accounts of a firm.

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