Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. the primary purpose of a trial balance is to pr

1. The primary purpose of a trial balance is to prove the mathematical equality of...

80.2K

Verified Solution

Question

Accounting

1. The primary purpose of a trial balance is to prove the mathematical equality of the debits and credits after posting

A.True

B. False

2.

Use the following information to calculate for the year ended December 31, 2016

Supplies $ 3,000 Revenues $25,000

Operating expenses 11,000 Cash 15,000

Accounts payable 9,000 Drawings 1,000

Accounts receivable 3,000 Notes payable 2,000

Beginning Capital 5,000 Equipment 8,000

Net income? (___________)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Statement 1 Energy emitted when an electron jump from 5 2 energy level is less...

Finance
1.2K views

1. A probability distribution shows the relative likelihood of observing any particular value. TRUE or FALSE 2....

Basic Math
1.2K views

Use the given statistics to complete parts? (a) and? (b). Assume that the populations are normally...

Statistics
1.2K views

A C D 11 211 211 12 125 121 7 179 185 12 225 222 11 161 157 15 170 174 6 191 184 16 195 194 12 135 133 13 162 165 9 14 11 10 8 15 14 13 9 6 8 12 14 16 11 The mean of the distribution of potato sack weights is 80 lbs with a standard deviation...

Programming
1.2K views

The interest rate paid on funds deposited in a bank is determined by the amount of...

Statistics
1.2K views

205 327 189 205 148 139 178 157 188 301 195 185 164 182 201 248 298 264 177 169 174 169 155 188 194 192 177 189 188 176 158 305 248 189 209 159 202 177 278 268 166 285 249 203 199 170 165 180 201 209 301 188 165 173 183 206 202 283 207 156 Please put these in order- highest to lowest- and tell me HOW you did it. SHOW...

Biology
1.2K views

Read the following extract from World Hepatitis Day - July 28th and answer the question...

Physics
1.2K views

2 16 0 A s 3 1 6 A s 4 Two coils A and...

Basic Math
1.2K views

A company manufactures two types of leaf blowers an electric Turbo model and a gas...

Algebra
1.2K views

Question ID 8828 If a listing agent in collusion with the seller provides false or...

Algebra
1.2K views

POSSIBLE POINTS 2 A ball is thrown up in the air The function that represents...

Accounting
1.2K views

Mark Welsch deposits $6,700 in an account that earns interest at an annual rate of...