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The trial balance of Pacific Asia Corporation had accounts with the following normal balances: Cash HK$5,000,...

The trial balance of Pacific Asia Corporation had accounts with the following normal balances: Cash HK$5,000, Revenue HK$85,000, Salaries and Wages Payable HK$4,000, Salaries and Wages Expense HK$40,000, Rent Expense HK$10,000, Share Capital – Ordinary HK$42,000; Dividends HK$15,000; Equipment HK$61,000. In preparing a trial balance, the total in the debit column is

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Expert Solution

Calculation of total debits
Cash                            5,000
Salaries and Wages Expense                          40,000
Rent Expense                          10,000
Dividends                          15,000
Equipment                          61,000
Total debits                       131,000

ekkarill92 answered 2 years ago
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