Using the Trial Balance, March 31, 2003, the amount entered for G/L Account 6070 (Bank Charges & Interest) is:

Question

BlackTom AI · Accepted Answer

To tackle this question, begin by identifying what G/L Account 6070 represents in the chart of accounts. This account is labeled Bank Charges & Interest, so it records costs related to bank service charges and any interest expense incurred.
Option A: $150.00. Consider whether this amount aligns with typical monthly bank charges or interest; if the bank charges for a basic month are around this value, it could be plausible, but we must check it against the trial balance details given. Since the provided correct answer is not this figure, this value likely does not match the actual recorded balance.
Option B: $225.00. This figure is in the same general range as typical service charges, but again, it must reflect the actual posting on March 31, 2003. Without seeing the specific balance in the trial balance, we can note that this option would only be correct if the trial balance shows $225.00 for Bank Charges & Interest, which is not indicated by the provided answer.
Option C: $275.00. This is the value indicated by the supplied correct answer in the prompt. It represents the amount posted to G/L 6070 on the Trial Balance as of March 31, 2003, and thus reflects the actual total for bank charges and interest for that period.
Option D: $2,500.00. This is a relatively large sum for monthly bank charges and interest and would typically prompt scrutiny or be unusual unless there were exceptional charges; in a standard monthly bank service charge scenario, this amount is unlikely to be correct unless the trial balance explicitly shows such a figure.
Reviewing these options with the given context, the trial balance entry for Bank Charges & Interest corresponds to $275.00, making Option C the matching figure. The other options diverge from the value recorded on the trial balance for March 31, 2003, and would imply an inconsistency with the bookkeeping as presented.

BBK99E1 - Basic Bookkeeping Level 1 Part 2 - Online Exam

Using the Trial Balance, March 31, 2003, the amount entered for G/L Account 6070 (Bank Charges & Interest) is:

查看解析

登录即可查看完整答案

类似问题

An error that may be detected by the trial balance is:

A trial balance shows the:

Referring to the Trial Balance printed in Step 7 of the Practical Exam, what are the total Debits?

The General Ledger Trial Balance is prepared yearly. True or False?

A post-adjustment Trial Balance is

A Trial Balance prepared before making balance day adjustments is known as

Refer to sheet A4Q7-9 Create a trial balance from the journal entries provided. What is the balance in Cash?

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单