If the trial balance shows a credit balance of $7,000 for Accounts Payable and a

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What’s inside this PDF?

Question: 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?

Options:

$3,000
$11,000
$7,000
$4,000

Correct Answer: $11,000

Solution:

The total balance of the trial balance is $7,000 (credit) + $4,000 (debit) = $11,000.

If the trial balance shows a credit balance of $7,000 for Accounts Payable and a

Practice Questions

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

Questions & Step-by-Step Solutions

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?

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.

Trial Balance – A trial balance is a statement that lists all the balances of the general ledger accounts to ensure that total debits equal total credits.
Credit and Debit Balances – Understanding the difference between credit and debit balances is crucial for calculating the total balance in a trial balance.

If the trial balance shows a credit balance of $7,000 for Accounts Payable and a

What’s inside this PDF?

If the trial balance shows a credit balance of $7,000 for Accounts Payable and a

Practice Questions

Questions & Step-by-Step Solutions

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