Which statement is incorrect concerning the adjusted trial balance?
Which statement is incorrect concerning the adjusted trial balance?
An adjusted trial balance proves the equality of the total debit balances and the total credit balances in the ledger after all adjustments are made.
The adjusted trial balance provides the primary basis for the preparation of financial statements.
The adjusted trial balance lists the account balances in order of their magnitude.
The adjusted trial balance is prepared after the adjusting entries have been journalized and posted.
Homework Answers
| An adjusted trial balance proves the equality of the total debit balance and the total credit balance in the ledger after all adjustments are made. | Correct |
| The adjusted trial balance provides the primary basis for the preparation of financial statements. | Correct |
| The adjusted trial balance lists the account balances in order of their magnitude. | Incorrect |
| The adjusted trial balance is prepared after the adjusting entries have been journalized and posted. | Correct |
An adjusted trial balance A) Is prepared after the financial statements are completed B) Proves the...
An adjusted trial balance A) Is prepared after the financial statements are completed B) Proves the equality of the total debit balances and total credit balances of ledger accounts after all adjustments have been made. C) is a required financial statement under generally accepted accounting principles. D) cannot be used to prepare financial statements.
Which of the following statements regarding a trial balance is incorrect? a. A trial balance is...
Which of the following statements regarding a trial balance is incorrect? a. A trial balance is a list of all of the open accounts in the ledger with their balances as of a given date. b. A trial balance is a test of the equality of debits and credits in the ledger. c. A trial balance helps to identify the period in which an error has been made. d. A trial balance provides a convenient list of the accounts that...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not journalized. b. posted to the ledger but not journalized. not journalized until after the financial statements are prepared. d. journalized before the worksheet is completed. 2. The information for preparing a trial balance on a worksheet is obtained from financial statements. b. general ledger accounts. general journal entries. d. business documents. 3. After the adjusting entries are journalized and posted to the accounts in...
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...
Accounting CycleFrom the following list of steps in the accounting cycle,identify what two steps...
Accounting CycleFrom the following list of steps in the accounting cycle, identify what two steps are missing:Transactions are analyzed and recorded in the journal.An unadjusted trial balance is prepared.Adjustment data are assembled and analyzed.An optional end-of-period spreadsheet is prepared.Adjusting entries are journalized and posted to the ledger.An adjusted trial balance is prepared.Closing entries are journalized and posted to the ledger.A post-closing trial balance is prepared.Select the steps in the accounting cycle in their proper order in order and include the...
What is the difference between an adjusted trial balance and an unadjusted trial balance?
What is the difference between an adjusted trial balance and an unadjusted trial balance? (Check all that apply.) The unadjusted trial balance is more up to date and should be used to prepare financial statements. The adjusted trial balance is a list of accounts and their balances after adjusting entries have been posted. The adjusted trial balance is used to prepare financial statements. The adjusted trial balance generally has more accounts listed than the unadjusted trial balance.
Q 3.21: The total of the credit column on the adjusted trial balance is the same...
Q 3.21: The total of the credit column on the adjusted trial balance is the same as the total of all the assets. the adjusting entries that have been posted to the general ledger. assets minus liabilities. the debit column on the adjusted trial balance,
Q 3.21: The total of the credit column on the adjusted trial balance is the same...
Q 3.21: The total of the credit column on the adjusted trial balance is the same as the total of all the assets. the adjusting entries that have been posted to the general ledger. assets minus liabilities. the debit column on the adjusted trial balance,
The following are all the steps in the accounting cycle. Number each step in the order...
The following are all the steps in the accounting cycle. Number each step in the order in which they should be done. Please write your answer in the space provided. - Closing entries are journalized and posted to the ledger. - An unadjusted trial balance is prepared. - An optional end-of-period spreadsheet (work sheet) is prepared. - A post-closing trial balance is prepared. - Adjusting entries are journalized and posted to the ledger. - Transactions are analyzed and recorded in the journal. - Adjustment data...
plz solve all the questions ed Jane Doe has prepared the trial balance for Braven Corp....
plz solve all the questions
ed 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 made? of stion Select one: O a journal entry is posted twice O a correct journal entry is not posted posted a debit as a credit e a transaction error Which of the following is incorrect? Select one: O A trial balance lists balances at a specific...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not journalized. b. posted to the ledger but not journalized. not journalized until after the financial statements are prepared. d. journalized before the worksheet is completed. 2. The information for preparing a trial balance on a worksheet is obtained from financial statements. b. general ledger accounts. general journal entries. d. business documents. 3. After the adjusting entries are journalized and posted to the accounts in...
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...
Q 3.21: The total of the credit column on the adjusted trial balance is the same as the total of all the assets. the adjusting entries that have been posted to the general ledger. assets minus liabilities. the debit column on the adjusted trial balance,
Q 3.21: The total of the credit column on the adjusted trial balance is the same as the total of all the assets. the adjusting entries that have been posted to the general ledger. assets minus liabilities. the debit column on the adjusted trial balance,
plz solve all the questions
ed 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 made? of stion Select one: O a journal entry is posted twice O a correct journal entry is not posted posted a debit as a credit e a transaction error Which of the following is incorrect? Select one: O A trial balance lists balances at a specific...
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