If the trial balance shows a credit balance of $7,000 for Accounts Payable and a debit balance of $4,000 for Cash, what is the total balance of the trial balance?
Practice Questions
1 question
Q1
If the trial balance shows a credit balance of $7,000 for Accounts Payable and a debit balance of $4,000 for Cash, what is the total balance of the trial balance?
$3,000
$11,000
$7,000
$4,000
The total balance of the trial balance is $7,000 (credit) + $4,000 (debit) = $11,000.
Questions & Step-by-step Solutions
1 item
Q
Q: If the trial balance shows a credit balance of $7,000 for Accounts Payable and a debit balance of $4,000 for Cash, what is the total balance of the trial balance?
Solution: The total balance of the trial balance is $7,000 (credit) + $4,000 (debit) = $11,000.
Steps: 5
Step 1: Identify the credit balance for Accounts Payable, which is $7,000.
Step 2: Identify the debit balance for Cash, which is $4,000.
Step 3: Add the credit balance and the debit balance together: $7,000 + $4,000.
Step 4: Calculate the total: $7,000 + $4,000 = $11,000.
Step 5: Conclude that the total balance of the trial balance is $11,000.
