91)

 

Column 1

Column 2

Column 3

Supplies

 

 

 

 

 

2.3   Learning Objective 2-3

 

1) Which of the following is not a financial statement?

A) Balance sheet

B) Income statement

C) Statement of owner’s equity

D) Trial balance

 

2) A list of all the accounts from the ledger with their ending balances is called a:

A) normal balance.

B) trial balance.

C) chart of accounts.

D) footing.

 

3) Which of the following is prepared first?

A) Balance sheet

B) Income statement

C) Statement of owner’s equity

D) Trial balance

4) Given the following list of accounts with normal balances, what are the trial balance totals of the debits and credits?

 

Cash

$1,100

Accounts Receivable

800

Capital

1,900

Withdrawals

500

Service Fees

1,000

Rent Expense

500

 

A) $2,900 debit, $2,900 credit

B) $3,900 debit, $3,900 credit

C) $2,000 debit, $2,000 credit

D) $1,200 debit, $1,200 credit

 

5) Given the following list of accounts with normal balances, what are the trial balance totals of the debits and credits?

 

Cash

$1000

Equipment

500

Accounts Payable

350

Capital

900

Service Fees

1000

Salaries Expense

750

 

A) $3,250 debit, $3,250 credit

B) $1,125 debit, $1,125 credit

C) $4,500 debit, $4,500 credit

D) $2,250 debit, $2,250 credit

 

6) The trial balance is a financial statement.

7) Number the following types of accounts (1-6) as they would appear on the Trial Balance.

________Assets

________Capital

________Revenue

________Liabilities

________Withdrawals

________Expenses

 

 

 



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