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Mini-Exercise 4-2(Algo) Account categories and bookkeeping jargon and procedures LO 4-1,4-3,4-4 A companys...

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Accounting

Mini-Exercise 4-2(Algo) Account categories and bookkeeping jargon and procedures LO 4-1,4-3,4-4
A companys preclosing trial balance shows the following accounts and amounts:
Cash $ 25,000
Property, plant, and equipment 340,000
Interest payable 12,000
Service revenues 80,000
Notes payable 84,000
Common stock 100,000
Interest expense 16,000
Interest receivable 7,000
Wages expense 36,000
Accounts receivable 40,000
Retained earnings 144,000
Interest revenue 18,000
Accounts payable 26,000
Required:
Calculate total assets on the balance sheet.
Calculate total liabilities on the balance sheet.
Calculate the total of all accounts with debit balances.
Calculate the total revenues on the income statement.
Calculate the total of all accounts with credit balances.

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