An Adjusted Trial Balance Is Given Below What Will Be the Final Balance in the Smith, Capital

question 53

Multiple Choice

An adjusted trial balance is given below. $$\begin{array} { | l | r | r | } \hline & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 12,600 & \\\hline \text { Accounts Receivable } & 2,400 & \\\hline \text { Prepaid Rent } & 800 & \\\hline \text { Merchandise Inventory } & 28,000 & \\\hline \text { Accounts Payable } & & \$ 4,200 \\\hline \text { Salaries Payable } & & 1,000 \\\hline \text { Notes Payable } & & 800 \\\hline \text { Smith, Capital } & & 13,800 \\\hline \text { Smith, Withdrawals } & 1,000 & \\\hline \text { Sales Revenue } & & 96,000 \\\hline \text { Sales Returns and Allowances } & 1,600 & \\\hline \text { Sales Discounts } & 400 & \\\hline \text { Cost of Goods Sold } & 25,000 & \\\hline \text { Salaries Expense } & 21,000 & \\\hline \text { Rent Expense } & 14,000 & \\\hline \text { Selling Expense } & 8,500 & \\\hline \text { Supplies Expense } & 500 & \\\hline \text { Total } &\$115,800 &\$115,800 \\\hline\end{array}$$ What will be the final balance in the Smith, Capital account after recording the closing entries?

• A) $37,800
• B) $12,700
• C) $24,000
• D) $36,800

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Definitions:

Simple Linear Regression

An analytical technique that utilizes a linear equation to depict the connection between a single independent variable and a dependent variable.

Independent Variables

Variables that are manipulated or controlled in an experiment to test the effects on dependent variables, without being influenced by other variables in the study.

Dependent Variables

Dependent variables are outcomes or responses whose changes are influenced by the manipulation of independent variables in an experimental setup.

Positively Related

A relationship between two variables in which they move in the same direction.