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Wolfe Inc
Wolfe Inc ?
-See the Account Balances for Wolfe Inc

Question 181

Multiple Choice

Wolfe Inc.
Wolfe Inc.reports these account balances at January 1,2017:
?
 Retained Earnings $49,000 Accounts Receivable 20,000 Accounts Payable 24,000 Capital Stock 185,000 Land 153,000 Cash 13,000 Equipment 20,000 Notes Payable 28,000 Buildings 80,000\begin{array} { l r } \text { Retained Earnings } & \$ 49,000 \\\text { Accounts Receivable } & 20,000 \\\text { Accounts Payable } & 24,000 \\\text { Capital Stock } & 185,000 \\\text { Land } & 153,000 \\\text { Cash } & 13,000 \\\text { Equipment } & 20,000 \\\text { Notes Payable } & 28,000 \\\text { Buildings } & 80,000\end{array} ?
-See the account balances for Wolfe Inc. ?
On January 31,Wolfe collected $12,000 of its accounts receivable and paid $11,000 on its note payable.In Wolfe's trial balance prepared on January 31,2017,the total of the credit column is


A) $297,000.
B) $287,000.
C) $286,000.
D) $275,000.

Correct Answer:

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