Multiple Choice
[The following information applies to the questions displayed below.]
Wilson Trucking,Inc.reports these account balances at January 1,2018 (shown in alphabetical order) :
On January 5,Wilson Trucking collected $175,000 of its accounts receivable,paid $150,000 on its accounts payable,and paid $11,000 on its note payable.
-On January 6,2018,total liabilities are:
A) $901,000.
B) $579,000.
C) $1,399,000.
D) $1,721,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q44: A trial balance includes only the balance
Q45: A trial balance proves that equal amounts
Q46: Montauk Oil Co.reports these account balances at
Q47: Decreases to owners' equity accounts are recorded
Q48: Liability accounts should only be debited and
Q50: Davis,Inc. ,a music group,entertained at a black-tie
Q51: A journal entry that records revenue must
Q52: All liability accounts normally have a credit
Q53: [The following information applies to the questions
Q54: [The following information applies to the questions