The Following Are the Current Month's Balances for Toys Galore,before

question 60

Multiple Choice

The following are the current month's balances for Toys Galore,before preparing the trial balance.
$$\begin{array} { | l | l | } \hline \text { Accounts payable } & \$ 8000 \\\hline \text { Revenue } & 5000 \\\hline \text { Cash } & 6000 \\\hline \text { Expenses } & 17,500 \\\hline \text { Furniture } & 10,000 \\\hline \text { Accounts receivable } & 14,000 \\\hline \text { Iones, capital } &? \\\hline \text { Loan payable } & 6500 \\\hline\end{array}$$
What amount should be shown for Jones,capital on the trial balance?

• A) $30,000
• B) $52,000
• C) $28,000
• D) $14,500

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Definitions:

Market Price

The price level at which a service or asset is being offered for sale or purchase in the market now.

Ex-dividend Date

The specific date on which a stock trades without its dividend, meaning that if you purchase the stock on or after this date, you will not receive the next dividend payment.

Date Of Record

Date on which holders of record are designated to receive a dividend.

Excess Cash

The amount of cash holdings that exceeds what a business requires for its immediate operational needs.