The following adjusted trial balance was drawn from the records of the Dakota Company ...

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Accounting

The following adjusted trial balance was drawn from the records of the Dakota Company

$\$ table $[[$ Adjusted Trial Balance $], [$ Account Title,Debit,Credit $], [$ Cash $, 400,], [$ Equipment $, 1, 000,], [$ Accounts Payable,, $400], [$ Common Stock,, $300], [$ Retained Earnings,, $200], [$ Service Revenue,, $1, 100], [$ Operating Expenses, $500,], [$ Dividends $, 100,], [$ Totals $, 2, 000, 2, 000]]$

Based on the information in the adjusted trial balance

Multiple Choice

the total of the debit column in the post $-$ closing trial balance will be $ $2, 000$

the total of the debit column in the post $-$ closing trial balance will be $ $1, 400$

the total of the credit column in the post $-$ closing trial balance will be $ $2, 000$

the total of the credit column in the post $-$ closing trial balance will be $ $1.500$

Answer & Explanation Solved by verified expert

4.3 Ratings (746 Votes)

To determine the totals of the debit and credit columns in the postclosing trial balance we need to understand which accounts are closed and which remain open after closing entries are made Accounts in the Adjusted Trial Balance 1 Permanent Accounts Remain Open See Answer

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