Quiz Ch 02 – Trial Balance Error Detection
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Which type of error can be identified by a trial balance?
Which type of error can be identified by a trial balance?
Which step is unlikely to help find the error if the trial balance does not balance?
Which statement regarding a trial balance is correct?
Identify the account type with a normal debit balance and how it affects equity.
What is posting in accounting?
What happens when an expense account is increased?
What is the meaning of a journal entry that records a debit to Cash and a credit to Accounts Receivable?
The sum of debits must be equal to the sum of credits in every journal entry.
Given the information — create journal entry’s for the nine transactions.
Your numbers will vary.
Given the marine company’s summarized data — prepare the trial balance, list accounts in order, and find the net income (loss).
Your numbers will vary.