Winrow Company Showed the Following Balances at the End of Its

question 131

Multiple Choice

Winrow Company showed the following balances at the end of its first year: $$\begin{array} { l r } \text { Cash } & \$ 11,000 \\\text { Prepaid insurance } & 500 \\\text { Accounts receivable } & 2,500 \\\text { Accounts payable } & 2,000 \\\text { Notes payable } & 3,000 \\\text { Common stock } & 5,000 \\\text { Dividends } & 500 \\\text { Revenues } & 22,000 \\\text { Expenses } & 12,500\end{array}$$ What amount did Winrow Company show as total credits?

• A)$32,500
• B)$32,000
• C)$31,500
• D)$33,000

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Definitions:

Cooperative Learning

An educational approach involving groups of students working together to solve a problem or achieve a common goal.

Projection

A defense mechanism where one attributes their own unacceptable thoughts, feelings, or motivations to someone else.

Halo Effect

A cognitive bias where the perception of one positive trait in an individual or thing influences the overall perception of that entity as favorable.

Attribution Theory

The study of the process by which people ascribe causes to the behaviors they perceive.