Table 4-1 -Referring to Table 4-1, Calculate the Total Amount in the

question 100

Multiple Choice

Table 4-1 $$\begin{array}{l}\text { Post Closing Trial Ba lance }\\\begin{array} { l r } \text { Red Brown, Capital } & \$ 154,900 \\\text { Cash } & 35,200 \\\text { Accounts receivable } & 10,900 \\\text { Accounts payable } & 3,500 \\\text { Unearned service revenue } & 6,850 \\\text { Supplies } & 1,200 \\\text { Equipment } & 110,600 \\\text { Land } & 15,400 \\\text { Accumulated amortization } & ? ? ?\end{array}\end{array}$$
-Referring to Table 4-1, calculate the total amount in the credit column of the post-closing trial balance.

• A)$120,900
• B)$165,250
• C)$173,300
• D)nil

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Definitions:

Income Statement

A financial document that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and profits.

Balance Sheet

A financial statement that displays a company's assets, liabilities, and shareholders' equity at a specific point in time.

Ending Inventory

The total value of a company's merchandise or goods that have not been sold at the end of an accounting period.

Beginning Inventory

The value of a company's inventory at the start of an accounting period, prior to any purchases or sales.