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Electrelane company showed the following balances at

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79. Electrelane Company showed the following balances at the end of its first year:Cash$4,000Prepaid insurance7,000Accounts receivable5,000Accounts payable4,000Notes payable6,000Owner’sCapital2,000Owner’sDrawings1,000Revenues32,000Expenses25,000What did Electrelene Company show as total credits on its trial balance?a.$9,000b. $44,000c.$45,000d. $49,000
80.During February 2014, its first month of operations, the owner of Ariel Pink Enterprisesinvested cash of $50,000. Ariel had cash revenues of $10,000 and paid expenses of $14,000.Assuming no other transactions impacted the cash account, what is the balance in Cash atFebruary 28?
81.At January 31, 2014, the balance in AislersInc.’s supplies accountwas $750. DuringFebruary, Aislers purchased supplies of $900 and used supplies of $1,125. At the end ofFebruary, the balance in the supplies account should be
82.At December 1, 2014, CursiveCompany’s accounts receivable balance was $1,800. DuringDecember, Cursive had credit sales of $7,200 and collected accounts receivable of $6,000. AtDecember 31, 2012, the accounts receivable balance is
83.At October 1, 2014, Padilla Industries had an accounts payable balance of $40,000. During themonth, the company made purchases on account of $33,000 and made payments on account of$48,000. At October 31, 2014, the accounts payable balance isa.$25,000.b. $41,000.c.$55,000.d. $121,000.
84.During 2014, its first year of operations, Neko’sBakery had revenues of $60,000 andexpenses of $35,000. The business had owner drawings of $20,000. What is the amount ofowner’s equityat December 31, 2014?
85.On July 7, 2014, Hidden Comera Enterprises performed cash services of $1,700. The entry torecord this transaction would include

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Term
Fall
Professor
tuba oksoz
Tags
Balance Sheet, Generally Accepted Accounting Principles, d, Double entry bookkeeping system, c

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