Author Question: Ink, Inc has the following accounts with normal balances on its adjusted trial balance after its ... (Read 124 times)

bclement10 · **on:** Jul 5, 2018

Ink, Inc has the following accounts with normal balances on its adjusted trial balance after its first year of business.

Cash 800
Unearned revenue 300
Insurance expense 200
Equipment 800
Accumulated depreciation 100
Depreciation expense 100
Sales 1,000
Wages expense 400
Common stock 1,000
Dividends 100

How much is the credit column total on the adjusted trial balance?
A) 2,600
B) 2,400
C) 2,300
D) 2,200

Question 2

(Appendix) The three types of business activities are operating activities, investing activities, and capital activities.
a. True
b. False
Indicate whether the statement is true or false