the accounts of local company at may 31, of the current year are as follows: account balance accounts…

the accounts of local company at may 31, of the current year are as follows: account balance accounts payable $23,500 accounts receivable $15,600 cash $68,000 common stock $32,000 dividends $3,000 insurance expense $2,100 retained earnings $25,800 salary expense $1,100 sales revenue $10,000 supplies $1,500 what are the first four lines, in proper order, on the trial balance at may 31, of the current year? a. accounts payable, dividends, common stock, retained earnings b. sales revenue, salary expense, insurance expense, supplies c. cash, accounts receivable, supplies, accounts payable d. accounts payable, accounts receivable, cash, common stock

the accounts of local company at may 31, of the current year are as follows: account balance accounts payable $23,500 accounts receivable $15,600 cash $68,000 common stock $32,000 dividends $3,000 insurance expense $2,100 retained earnings $25,800 salary expense $1,100 sales revenue $10,000 supplies $1,500 what are the first four lines, in proper order, on the trial balance at may 31, of the current year? a. accounts payable, dividends, common stock, retained earnings b. sales revenue, salary expense, insurance expense, supplies c. cash, accounts receivable, supplies, accounts payable d. accounts payable, accounts receivable, cash, common stock

Answer

Brief Explanations:

In a trial - balance, assets are listed first in the order of liquidity (most liquid to least liquid). Cash is the most liquid asset, followed by Accounts Receivable, then Supplies. Accounts Payable is a liability. So the first four lines in proper order should start with assets.

Answer:

C. Cash, Accounts Receivable, Supplies, Accounts Payable