Qwik Company Showed the Following Balances at the End of Its

question 62

Multiple Choice

Qwik Company showed the following balances at the end of its first year: $\begin{array}{lr}\text { Cash } & \$ 8,700 \\\text { Prepaid insurance } & 9,400 \\\text { Accounts receivable } & 7,000 \\\text { Accounts payable } & 5,800 \\\text { Notes payable } & 9,400 \\\text { Owner's Capital } & 2,300 \\\text { Owner's Drawings } & 1,400 \\\text { Revenues } & 44,000 \\\text { Expenses } & 35,000\end{array}$ What did Qwik Company show as total credits on its trial balance?

• A) $52,400
• B) $61,500
• C) $62,900
• D) $70,900

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Definitions:

Estrogen

A group of hormones important for sexual and reproductive development, primarily in females.

Corpus Luteum

An ovarian structure that forms after ovulation from the ruptured follicle, responsible for the production of progesterone during the early stages of pregnancy.

Corpus Albicans

The corpus albicans is the regressed, fibrous remains of the corpus luteum in the ovary, following the absence of pregnancy.

Progesterone

A steroid hormone involved in the menstrual cycle, pregnancy, and embryogenesis of humans and other species.