Solved 1 Answer
See More Answers for FREE
Enhance your learning with StudyX
Receive support from our dedicated community users and experts
See up to 20 answers per week for free
Experience reliable customer service
In case u face any issues please leave a message in the comments.   Answer: A. Cash is an asset it always has a normal debit balance. Cash $200,000       Computer equipment is an asset and it has a normal debit balance Computer Equipment $120,000       Accounts Payable is a liability to pay so it has a normal credit balance Accounts Payable     $120,000   Share capital is the amount owned by owners of the company and it has a normal credit balance Share Capital     $200,000   B. Total Debits = Cash + Computer Equipment = $200,000 + 120,000 = $320,000 Total Credits = Share Capital + Accounts Payable = $200,000 + 120,000 = $320,000 ...