Given the Following Adjusted Trial Balance, What Will Be the Totals

question 76

Multiple Choice

Given the following adjusted trial balance, what will be the totals for the debit and credit columns of the post-closing trial balance?

• A) $7,396
• B) $7,118
• C) $7,344
• D) $7,170

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Definitions:

Supplies Expense

Costs associated with consumable items used in the operation of a business, such as office supplies, which are expensed as used.

Total Expenses

The sum of all costs and expenses, operational or non-operational, incurred by a business during a specific period.

Service Revenues

Income earned by a company for the services it provides to customers, excluding goods sold.

Owner's Drawing

Refers to the withdrawal of cash or other assets from a business by the owner for personal use.