Final answer:
The question involves accounting fundamentals including account balances, trial balance, income statement, and closing entries. It asks for calculations of merchandise balance and current account balance based on financial values provided.
Step-by-step explanation:
The question focuses on various aspects of accounting, such as account balances, trial balance, income statement items, and closing entries. To address these, it's important to understand that an account balance is the amount of money in a financial repository, such as a checking account, at any given moment. A trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal. An income statement is a financial statement that reports a company's financial performance over a specific accounting period, including revenue, expenses, and profits. Finally, closing entries are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts.
To calculate the merchandise balance and the current account balance, one would typically use values for goods, services, and income payments as detailed in the relevant financial documents. A bank's balance sheet, which lists assets and liabilities, will also reflect the bank's net worth or bank capital, which is essentially the difference between total assets and total liabilities.