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:

Accounts Payable

Money owed by a company to its creditors or suppliers for goods and services received but not yet paid for.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against an asset over its life up to a specific date.

Depreciation Expense

Apportioning the cost of a material asset across its useful duration.

Wages Expense

Represents the total amount of wages and salaries that a company pays to its employees for a specific period.