Wolfe Inc. Wolfe Inc. Reports These Account Balances at January 1, 2015

question 175

Multiple Choice

Wolfe Inc.
Wolfe Inc. reports these account balances at January 1, 2015:

-See the account balances for Wolfe Inc. On January 31, Wolfe collected $12,000 of its accounts receivable and paid $11,000 on its note payable. In Wolfe's
Trial balance prepared on January 1, 2015, the total of the credit column is:

• A) $182,000
• B) $286,000
• C) $196,000
• D) $166,000

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Definitions:

Mg/Diethylether

A common Grignard reaction solvent system involving magnesium metal in diethyl ether, used in organic synthesis to form carbon-carbon bonds.

Substrates

The reactants or substances upon which an enzyme acts in biochemical reactions, or the starting materials in chemical syntheses.

Ketone Treatment

A process or reaction involving the use of ketones, often for chemical synthesis or modification of compounds.

LiAlH4

Lithium aluminium hydride, a powerful reducing agent widely used in organic chemistry for the reduction of various functional groups including esters, carboxylic acids, and aldehydes.