Homework Answers
1)
When a debit amount is posted on credit side, the total of credits will be more than debit.
Posted a debit as a credit.
3rd option
2)
Trial balance is prepared before the financial statements.
A trial balance is prepared after the financial statements.
5th option
3)
Deferred revenues are incomes received in advance which are treated as a liability. Liabilities have a normal credit balance.
Deferred revenue
4th option
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ed Jane Doe has prepared the trial balance for Braven Corp....
plz solve all the answer Question 5 Transactions are initially recorded in the Answer saved Marked...
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Question 5 Transactions are initially recorded in the Answer saved Marked out of LOO Select one: Tra question O general ledger O none of the above statement of financial position Otrial balance general journal Clear my choice Previous page Type here to search o Question 6 Answer saved Jane Doe has prepared the trial balance for Braven Corp. Total debits are $25.678 while total credits are $30,034. Which of the following errors has Jane likely...
plz solve all the questions Question 9 A trial balance usually Answer ved Marted out of...
plz solve all the questions
Question 9 A trial balance usually Answer ved Marted out of 1.00 Select one Olists all the credit balances first then all the debit balances. Pag question O lists all the debit balances first, then all the credit balances. lists all the accounts and balances in financial statement order. lists all the accounts in alphabetical order. Clear my choice Previous page Question 10 The right side of an account is referred to as the Answer...
Effect of Errors on Trial Balance The following errors occurred in posting from a two-column journal:...
Effect of Errors on Trial Balance The following errors occurred in posting from a two-column journal: A credit of $8,350 to Accounts Payable was not posted. A debit of $2,010 to Cash was posted to Miscellaneous Expense. A credit of $270 to Cash was posted as $720. A debit of $5,820 to Wages Expense was posted as $5,280. An entry debiting Accounts Receivable and crediting Fees Earned for $21,700 was not posted. A debit of $600 to Accounts Payable was...
Effect of Errors on Trial Balance The following errors occurred in posting from a two-column journal:...
Effect of Errors on Trial Balance The following errors occurred in posting from a two-column journal: 1. A credit of $8,090 to Accounts Payable was not posted. 2. An entry debiting Accounts Receivable and crediting Fees Earned for $22,300 was not posted. 3. A debit of $1,240 to Accounts Payable was posted as a credit. 4. A debit of $1,480 to Supplies was posted twice. 5. A debit of $2,210 to Cash was posted to Miscellaneous Expense. 6. A credit...
A trial balance would only help in detecting which one of the following errors?
A trial balance would only help in detecting which one of the following errors? An error when transferring the debit side of journal entry to the ledger occurred; it was recorded as a credit. The credit side of the transaction was recorded correctly. A transaction that is not journalized. A journal entry that is posted twice. A trial balance would help detect all of these errors. For a given transaction, the account that should have been debited was credited and the account that should have...
FULL SCREEN PREMIER VERSION BACK Question 7 Terry Zelinski, the owner of Larkspur Mountain Tours, prepared...
FULL SCREEN PREMIER VERSION BACK Question 7 Terry Zelinski, the owner of Larkspur Mountain Tours, prepared the following trial balance at March 31, 2021 Cash $13,140 Accounts receivable 3,130 Supplies 860 Equipment 7,320 Accounts payable $2,900 T. Zelinski, capital 23,820 T. Zelinski, drawings 3,620 Service revenue 6,550 Advertising expense 3,670 Salaries expense 410 Totals $35080 $30, 340 A review shows that Terry made the following errors in the accounting records 1. A purchase of $200 of supplies on account was...
Alpaca Company presented the following unadjusted trial balance. As you can see, the trial balance is...
Alpaca Company presented the following unadjusted trial balance. As you can see, the trial balance is not balanced since the former accountant made several errors. ALPACA CORPORATION TRIAL BALANCE JAN 31, 2020 DEBIT CREDIT Cash $ 10,000 Accounts Receivable 80,000 Equipment 120,000 Accounts Payable $ 48,000 Wages Payable 0 Capital, Moose 123,200 Service Revenues 86,000 Wages Expense 16,200 Rent Expense 14,000 Insurance Expense 12,000 Utilities Expense 3,000 TOTAL $ 255,200 $ 257,200 After reviewing the financial records, you found the...
Help Seve A trial balance has total debits of $33,000 and total credits of $44,000. Which...
Help Seve A trial balance has total debits of $33,000 and total credits of $44,000. Which one of the following errors would create this imbalance? Multiple Choice A $5,500 debit to Utilities Expense in a journal entry was incorrectly posted to the ledger as a $5,500 credit, leaving the Utilities Expense account with a $6,250 debit balance. A $11,000 debit to Salaries Expense in a journal entry was incorrectly posted to the ledger as a $11,000 credit, leaving the Salaries...
Which of the following errors would not be disclosed bypreparation of a trial balance? Select...
Which of the following errors would not be disclosed by preparation of a trial balance? Select one: a. An error was made in computing the balance of the Cash account. b. A journal entry included a debit to the Equipment account for $3,200, but this amount was erroneously posted as $2,300. c. During the posting process, a $1,700 debit to Cash was accidentally entered in the credit side of the Cash account. d. The journal entries recorded on the last day of the year have...
Which statement relating to a trial balance is incorrect? Select one: O a. The fact that...
Which statement relating to a trial balance is incorrect? Select one: O a. The fact that the sum of the debit column equals the sum of the credit column does not guarantee that no errors have been made in the ledger. b. A trial balance is a list of all the accounts in the ledger with their current balances. O c. A trial balance reports the financial position of a business. O d. A trial balance may be prepared at...
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Question 5 Transactions are initially recorded in the Answer saved Marked out of LOO Select one: Tra question O general ledger O none of the above statement of financial position Otrial balance general journal Clear my choice Previous page Type here to search o Question 6 Answer saved Jane Doe has prepared the trial balance for Braven Corp. Total debits are $25.678 while total credits are $30,034. Which of the following errors has Jane likely...
plz solve all the questions
Question 9 A trial balance usually Answer ved Marted out of 1.00 Select one Olists all the credit balances first then all the debit balances. Pag question O lists all the debit balances first, then all the credit balances. lists all the accounts and balances in financial statement order. lists all the accounts in alphabetical order. Clear my choice Previous page Question 10 The right side of an account is referred to as the Answer...
Effect of Errors on Trial Balance The following errors occurred in posting from a two-column journal: 1. A credit of $8,090 to Accounts Payable was not posted. 2. An entry debiting Accounts Receivable and crediting Fees Earned for $22,300 was not posted. 3. A debit of $1,240 to Accounts Payable was posted as a credit. 4. A debit of $1,480 to Supplies was posted twice. 5. A debit of $2,210 to Cash was posted to Miscellaneous Expense. 6. A credit...
FULL SCREEN PREMIER VERSION BACK Question 7 Terry Zelinski, the owner of Larkspur Mountain Tours, prepared the following trial balance at March 31, 2021 Cash $13,140 Accounts receivable 3,130 Supplies 860 Equipment 7,320 Accounts payable $2,900 T. Zelinski, capital 23,820 T. Zelinski, drawings 3,620 Service revenue 6,550 Advertising expense 3,670 Salaries expense 410 Totals $35080 $30, 340 A review shows that Terry made the following errors in the accounting records 1. A purchase of $200 of supplies on account was...
Help Seve A trial balance has total debits of $33,000 and total credits of $44,000. Which one of the following errors would create this imbalance? Multiple Choice A $5,500 debit to Utilities Expense in a journal entry was incorrectly posted to the ledger as a $5,500 credit, leaving the Utilities Expense account with a $6,250 debit balance. A $11,000 debit to Salaries Expense in a journal entry was incorrectly posted to the ledger as a $11,000 credit, leaving the Salaries...
Which statement relating to a trial balance is incorrect? Select one: O a. The fact that the sum of the debit column equals the sum of the credit column does not guarantee that no errors have been made in the ledger. b. A trial balance is a list of all the accounts in the ledger with their current balances. O c. A trial balance reports the financial position of a business. O d. A trial balance may be prepared at...
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