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Cash $15,000
Accounts Payable $15,000
Accounts Receivable 35,000
Notes Payable 25,000
Supplies 4,000
Mortgage Payable 85,000
Prepaid Insurance 3,000
Capital, Mary Ling 195,000
Other Prepaids 1,000
Withdrawals, Mary Ling 22,000
Equipment 65,000
Revenues 190,000
Buildings 140,000 Salaries
Expense 73,000
Land 40,000
Rent Expense 65,000
Patents 10,000
Utilities Expense 37,000
Question1: Assuming all of the accounts have normal balances, what is the total of the trial balance?
A) $532,000
B) $508,000
C) $488,000
D) $510,000
E) Does not balance
Financial Statement Analysis and Preparation
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