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Questions and Answers
What type of trial balance represents the beginning balances of accounts in the next accounting period?
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?
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?
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?
What is the total owner's equity at the end of the period?
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What is the total revenue for the period?
What is the total revenue for the period?
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