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Accounting Fundamentals Quiz

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Questions and Answers

What type of trial balance represents the beginning balances of accounts in the next accounting period?

Unadjusted trial balance (correct)

Carry-over trial balance

Adjusted trial balance

Post-closing trial balance

What is the total assets at the end of the period?

3,420,000

2,980,000

4,320,000 (correct)

3,840,000

What is the total liabilities at the end of the period?

3,420,000

4,700,000

1,700,000 (correct)

2,320,000

What is the total owner's equity at the end of the period?

<p>3,220,000</p> Signup and view all the answers

What is the total revenue for the period?

<p>1,200,000</p> Signup and view all the answers

Accounting Fundamentals Quiz

Choose a study mode

Podcast

Questions and Answers

What type of trial balance represents the beginning balances of accounts in the next accounting period?

What is the total assets at the end of the period?

What is the total liabilities at the end of the period?

What is the total owner's equity at the end of the period?

What is the total revenue for the period?

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Accounting Fundamentals Quiz

Accounting Fundamentals Quiz

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Accounting Fundamentals Quiz

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