Quiz Ch 02 – Trial Balance Error Resolution
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Which step is unlikely to help find the error if the trial balance does not 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.
Given trial balance, compute for the total assets, total liabilities, and net income or net loss of the company
Your numbers will vary.