An account balance is the difference in between the debits and also credits for an account consisting of any type of start balance. T/F
An account used to document the owners" investments in the service is called:A. DividendsB. Common StockC. RevenueD. ExpenseE. Liability
Prephelp expenses are:A. Payments made for products and also solutions that perform not ever expire.B. Classified as liabilities on the balance sheet.C. Decreases in kept income.D. Assets that recurrent prepayments of future prices.E. Promises of payments by customers.

You are watching: Of the following accounts, the one that normally has a credit balance is:


Of the complying with accounts, the one that typically has actually a credit balance is:A. CashB. Office EquipmentC. Sales Wages PayableD. DividendsE. Sales Wages Expense
Double-enattempt audit is an accounting system:A. That documents each transactivity twice.B. That records the results of transactions and also other events in at leastern 2 accounts through equal debits and credits.C. In which the affect of each transactivity is checked twice to ensure there are no errors.D. That might just be provided if T-accounts are provided.E. That records the results of transactions on at least two financial statements.
Rocky Industries got its telephone bill in the amount of $300 and also automatically phelp it. Rocky"s journal enattempt to document this transactivity will certainly include a:A. Delittle bit to Telephone Expense for $300.B. Crmodify to Accounts Payable for $300.C. Delittle bit to Cash for $300.D. Credit to Telephone Expense for $300.E. Debit to Accounts Payable for $300.
Wisconsin Rentals purchased office offers on credit. The journal entry made by Wisconsin Rentals to record this transactivity will encompass a:A. Delittle bit to Accounts Payable.B. Debit to Accounts Receivable.C. Crmodify to Cash.D. Crmodify to Accounts Payable.E. Credit to Retained Earnings
The process of transferring basic journal indevelopment to the ledger is:A. Double-enattempt audit.B. Posting.C. Balancing an account.D. Journalizing.E. Not forced unmuch less debits do not equal credits.
Which of the complying with is the proper journal enattempt if a company perdevelops a business and also is paid immediately?A. Delittle to Cash, delittle bit to Service Revenue.B. Debit to Cash, credit to Service Revenue.C. Delittle to Accounts Receivable, crmodify to Cash.D. Debit to Service Revenue, credit to Accounts Receivable.E. Delittle to Accounts Receivable, crmodify to Service Revenue.

See more: The Goal Of Positioning Is To ________., The Goal Of Positioning Is ______


A report that lists accounts and their balances, in which the complete delittle bit balances should equal the complete crmodify balances, is called a(n):A. Account balanceB. Trial balanceC. LedgerD. Chart of accountsE. General journal
If the Delittle and also Credit column totals of a trial balance are equal, then:A. All transactions have actually been taped effectively.B. All entries from the journal have been posted to the ledger appropriately.C. All ledger account balances are correct.D. The full delittle bit entries and also complete credit entries are equal.E. The balance sheet would be correct.
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