Question 9 of 40 25 25 points which of the following

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Question 9 of 402.5/ 2.5 PointsWhich of the following groups of accounts have a normal credit balance?A. revenue, liabilities, and capitalB. assets, capital, and withdrawalsC. liabilities, expenses, and assets
D. assets, expenses, and withdrawalsQuestion 10 of 402.5/ 2.5 PointsWhich of the following is prepared last?
Question 11 of 402.5/ 2.5 PointsThe business incurred an expense and paid it immediately. To record this __________.
Question 12 of 402.5/ 2.5 PointsGiven the following list of accounts with normal balances, what are the trial balance totals of thedebits and credits?Cash$1000Equipment500Accounts Payable350Capital900Service Fees1000Salaries Expense750
B. $1,125 debit, $1,125 creditC. $4,500 debit, $4,500 creditD. $2,250 debit, $2,250 creditQuestion 13 of 402.5/ 2.5 PointsA credit to an asset account was posted to the capital account. This error would cause__________.A. assets to be overstatedB. liabilities to be overstatedC. capital to be understatedD. Both A and C are correct.
Question 14 of 402.5/ 2.5 PointsA credit to an asset account was posted to the capital account. This error would cause__________.
Question 15 of 402.5/ 2.5 PointsThe purpose of the trial balance is __________.
C. to prove that debits equal creditsD. to distribute it with the other financial reportsQuestion 16 of 402.5/ 2.5 PointsA debit to a liability account was posted to a revenue account. This error would cause__________.

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Term
Fall
Professor
N/A
Tags
Accounting, Balance Sheet, Debit, Double entry bookkeeping system

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