Qwik Company Showed the Following Balances at the End of Its

question 174

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 is the total of the accounts with a credit balance?

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

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Definitions:

Hippocampus

A part of the brain involved in the formation of new memories and is also associated with learning and emotions.

Limbic System

A complex system of nerves and networks in the brain, involved with instinct and mood, controlling basic emotions and drives.

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A part of the brain at the back of the skull in vertebrates, responsible for coordinating and regulating muscular activity.

Complex Action Planning

The process of formulating, organizing, and executing multifaceted sets of actions towards achieving a specific goal.