Wilson Trucking, Incorporated reports these account balances at January 1,Year 2 (shown in alphabetical order):Accounts Payable $ 214,000Accounts Receivable194,000Buildings474,000Capital Stock674,000Cash154,000314,000394, 000514,000128,000EquipmentLandNotes PayableRetained Earnings■On January 5, Year 2, Wilson Trucking collected $169,000 of its accountsreceivable, paid $144,000 on its accounts payable, and paid $27,000 on itsnote payable.In a trial balance prepared for Wilson Trucking on January 1, Year 2, the totalof the credit column is:Multiple Choice●A $1,530,000.B $1,556,000.C $3,060,000.D$1,596,000.

Trial balance forms a part of the accounting system of the business entity. It is prepared after the…

Wilson Trucking, Incorporated reports these account balances at January 1, Year 2 (shown in alphabetical order): Accounts Payable $ 214,000 Accounts Receivable 194,000 Buildings 474,000 Capital Stock 674,000 Cash 154,000 314,000 Equipment Land Notes Payable Retained Earnings 394,000 514,000 128,000 On January 5, Year 2, Wilson Trucking collected $169,000 of its accounts receivable, paid $144,000 on its accounts payable, and paid $27,000 on its note payable. In a trial balance prepared for Wilson Trucking on January 1, Year 2, the total of the credit column is: Multiple Choice ● A $1,530,000. B $1,556,000. C $3,060,000. D$1,596,000.

Wilson Trucking, Incorporated reports these account balances at January 1, Year 2 (shown in alphabetical order): Accounts Payable $ 214,000 Accounts Receivable 194,000 Buildings 474,000 Capital Stock 674,000 Cash 154,000 314,000 Equipment Land Notes Payable Retained Earnings 394,000 514,000 128,000 On January 5, Year 2, Wilson Trucking collected $169,000 of its accounts receivable, paid $144,000 on its accounts payable, and paid $27,000 on its note payable. In a trial balance prepared for Wilson Trucking on January 1, Year 2, the total of the credit column is: Multiple Choice ● A $1,530,000. B $1,556,000. C $3,060,000. D$1,596,000.

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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