Given the Following List of Accounts with Normal Balances,what Are

question 80

Multiple Choice

Given the following list of accounts with normal balances,what are the trial balance totals of the debits and credits?
$$\begin{array} { | l | r | } \hline \text { Cash } & \$ 1,100 \\\hline \text { Accounts Receivable } & 800 \\\hline \text { Capital } & 1,900 \\\hline \text { Accounts Payable } & 500 \\\hline \text { Service Fees Earned } & 1,000 \\\hline \text { Rent Expense } & 1,500 \\\hline\end{array}$$

• A)$3400 debit,$3400 credit
• B)$3,900 debit,$3,900 credit
• C)$2,000 debit,$2,000 credit
• D)$1,200 debit,$1,200 credit

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Definitions:

Equilibrium Price

The price point at which the quantity of goods supplied equals the quantity of goods demanded, resulting in a balance between supply and demand.

Producer Surplus

The gap between the amount producers are ready to accept for a good and the actual amount they end up receiving.

Demand for Tablets

The consumer's desire and willingness to pay for tablet computers, influenced by factors such as price, technology, and consumer preferences.

Supply of Tablets

Refers to the total quantity of tablet computers that producers are willing and able to sell at a given price level in a given time period.