10. Carol Co, has total debits in its cash T-account of $155,000 and total credi

Question

10. Carol Co, has total debits in its cash T-account of $155,000 and total credits of The balance in the cash T-account is a: $120,000 A) debit of S155,000 mont B) debit of S35,000 C) credit of S120,000. D) credit of $35,000. lis 11. With a classified balance sheet, current assets are usually listed: A) in alphabetical order B) in the order of when the assets were acquired. C) from the largest to smallest de D) in the order of liquidity. 12. A company's trial balance included the following account balances: Accounts Payable 19,207 81,336 73,324 Accounts Receivable Cash Inventory Equipment Income Tax Payable 3,512 25,816 1,709 54,128 202,808 Note Payable, due in two years Stockholders' Equity Supplies 5,512 12,880 Wages Payable

Explanation / Answer

10) Answer. B) Debit of $35,000 Cash Account $155,000 $120,000 Balance $35,000 11) Answer. D) In the order of liquidity. 12) Note: Question is not complete.

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