Given the Following List of Accounts with Normal Balances,what Are

question 68

Multiple Choice

Given the following list of accounts with normal balances,what are the trial balance totals of the debits and credits? $\begin{array} {| l | r |} \hline \text { Cash } & \$ 1000 \\\hline \text { Equipment } & 500 \\\hline \text { Accounts Payable } & 350 \\\hline \text { Capital } & 900 \\\hline \text { Service Fees } & 1000 \\\hline \text { Salaries Expense } & 750 \\\hline\end{array}$

• A)$3,250 debit,$3,250 credit
• B)$1,125 debit,$1,125 credit
• C)$4,500 debit,$4,500 credit
• D)$2,250 debit,$2,250 credit

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Definitions:

Inflation

A general increase in prices and fall in the purchasing value of money.

Inventories

Producers’ stocks of finished and in-process goods.

Economic Fluctuations

Variations in the economic activity of a country over time, including periods of growth (expansions) and decline (recessions).

Synchronized

The process of operating or occurring at the same time or rate, ensuring coherence and coordination.