Lohan Company Had the Following Account Balances as of June

question 84

Multiple Choice

Lohan Company had the following account balances as of June 30.
Cash $29,000
Equipment $15,000
Accounts Payable $2,800
T. Lohan, Capital $62,700
T. Lohan, Drawing $5,000
Income from Services $35,000
Rent Expense $12,000
Salaries Expense $8,000
What is the debit balance of the trial balance?

• A) $141,700
• B) $136,700
• C) $64,000
• D) $69,000

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Definitions:

Organizational Approach

A strategy or method employed by a company or institution towards achieving its goals, which involves structuring, managing, and optimizing its resources and processes.

Team Skills

The abilities and competencies that enable individuals to work effectively as part of a group.

Project Execution Phase

The stage in project management where the plan is put into action and the work required is performed.

Project Sponsor

An individual or group that provides financial resources for a project and supports its initiation, planning, and execution.