Do not solve any optional questions all will unhelpful!! When the trial balance does not tally, the difference is transferred to: A) Suspense AccountB) Profit and Loss AccountC) Cash AccountD) Capital Account
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Do not solve any optional questions all will unhelpful!!
When the trial balance does not tally, the difference is transferred to:
A) Suspense Account
B)
C) Cash Account
D) Capital Account
Step by step
Solved in 2 steps
- Do not answer any optional questions all will unhelpful. The account used to record errors until they are resolved is: A) Reserve AccountB) Capital AccountC) Suspense AccountD) Control AccountA credit is used to decrease which of the following accounts (more than one may be correct)? Multiple correct question Service Revenue Insurance expense Dividends CashNo AI Which account is increased with a credit?A. CashB. Salaries ExpenseC. Accounts ReceivableD. Service Revenue
- Do not use ai 1. Which of the following is shown on the credit side of a trial balance? A) CashB) DrawingsC) CapitalD) Rent paidDo not use ai Which account is increased with a debit? A. RevenueB. Accounts PayableC. CashD. CapitalDo not answer any optional questions all will unhelpful!! An account that always shows a debit balance is: A) Sales AccountB) Purchase AccountC) Capital AccountD) Commission Received Account
- Dont use ai What is the effect of writing off an uncollectible account under the allowance method?A. Increases net incomeB. No effect on total assetsC. Decreases revenueD. Increases expensesWhich account increases with a debit entry? A. Sales RevenueB. CapitalC. Accounts PayableD. Supplies no aiDon't answer any optional question! Which of the following accounts normally has a credit balance? A) Salaries ExpenseB) EquipmentC) CapitalD) Cash
- Multiple choice: 1.Collection of an account receivable would: A.decrease liabilities B. have no effect on owner's equity C. decrease owner’s equity D. increase total assetsNo ai What is the purpose of a trial balance?A. To prepare tax returnsB. To check if debits equal creditsC. To record daily transactionsD. To value inventoryWhich account is increased by a credit? A. CashB. SuppliesC. RevenueD. Expense no ai