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Q 1/16
Score 0
Which of the following errors, considered individually, would cause the trial balance totals to be unequal?
30
A payment of $76 for supplies was posted as a debit of $67 to Supplies Expense and a credit of $67 to Cash.
Cash received from a customer on account was posted as a credit of $120 to Cash, $120 to Income from Services, and a debit of $220 to Accounts Receivable.
A payment of $391 to a creditor was neglected to be journalized by the accountant of a company.
A receipt of $691 from a customer was posted as a debit of $961 to Cash and a credit of $961 to Inventory.
Q 2/16
Score 0
Which of the following errors will probably be located when preparing a trial balance?
30
Posting the debit of a journal entry as a credit and the credit as a debit
Failure to post an entire entry in the ledger
Failure to record an entire entry in the journal
Failure to post part of an entry
16 questions
Q.
Which of the following errors, considered individually, would cause the trial balance totals to be unequal?
1
30 sec
Q.
Which of the following errors will probably be located when preparing a trial balance?
2
30 sec
Q.
The proof that the debits and credits in the ledger are equal is called the
3
30 sec
Q.
In the accounting process, the second step is to
4
30 sec
Q.
Which of the following errors, each considered separately, would cause the trial balance totals to be unequal?
5
30 sec
Q.
When posting from the journal to the ledger, the accountant failed to post a $52 debit to Cash. The effect of this error will be that the
6
30 sec
Q.
Which of the following is true concerning the trial balance?
7
30 sec
Q.
Lohan Company had the following account balances as of June 30.
Cash $29,000
Equipment $15,000
Accounts Payable $2,800
T. Lohan, Capital $62,700
T. Lohan, Drawing $5,000
Income from Services $35,000
Rent Expense $12,000
Salaries Expense $8,000
What is the debit balance of the trial balance?
8
30 sec
Q.
Munoz Company had the following account balances as of December 31.
Cash $15,000
Equipment $7,000
Accounts Payable $4,200
R. Munoz, Capital $10,300
R. Munoz, Drawing $3,000
Income from Services $18,500
Rent Expense $6,000
Salaries Expense $2,000
What is the credit balance of the trial balance?
9
30 sec
Q.
Accidentally recording the $300 debit of a transaction twice and the credit only once will cause the trial balance totals to differ by $300.
10
30 sec
Q.
To keep the fundamental accounting equation in balance, debits and credits must be in balance and equal amounts must be on each side of the equation.
11
30 sec
Q.
If an entry is correctly journalized, but posted to the incorrect accounts, with equal debits and credits, the trial balance will still be out of balance.
12
30 sec
Q.
Posting an entire transaction twice will cause the trial balance totals to be unequal.
13
30 sec
Q.
If an entry is recorded twice, the error will show up in the trial balance.
14
30 sec
Q.
When preparing the trial balance, record the balances of the accounts in the order in which they appear in the general ledger.
15
30 sec
Q.
Failure to post an entire transaction will not be reflected in the trial balance.
