The Following Is the Adjusted Trial Balance for Tuttle Photography

question 67

Multiple Choice

The following is the adjusted trial balance for Tuttle Photography. After the closing entries, what will the final balance in R. Tuttle, Capital be?

• A) $25,000
• B) $191,200
• C) $21,290
• D) $166,200

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Definitions:

Total Revenue

The total amount of money generated by a company from its business activities, primarily through the sale of goods and services, before any expenses are deducted.

Seasonal Inventory

Stock that is held in anticipation of seasonal peaks in demand, ensuring that a business can meet customer needs during specific times of the year.

Cycle Inventory

Cycle inventory refers to the quantity of goods a company holds to meet average demand during a specific period, part of the inventory management to balance supply and demand.

Predictable Variability

The expected fluctuations in demand or supply that can be anticipated and planned for based on historical data or trends.