Question : 74.The normal balance of an account the A. increase side of the : 1169316

 

 

74.The normal balance of an account is the   

A. increase side of the account.

 

B. decrease side of the account.

 

C. the left side of the account.

 

D. the right side of the account.

 

 

 

75.Identify the accounts below that would ALL appear on the balance sheet.   

A. Cash, Accounts Payable, Owner’s Capital (ending balance)

 

B. Accounts Receivable, Accounts Payable, Fee Income

 

C. Utility Expense, Salary Expense, Cash

 

D. Owner’s Capital (beginning), Owner’s Drawing, Supplies Expense

 

 

 

76.If a trial balance is not in balance (the Debit and Credit columns are not equal), a logical first step is to   

A. check each account balance calculation.

 

B. check each account balance in the general ledger to the trial balance number.

 

C. check the addition of each column.

 

D. divide the difference by either 9 or 2.

 

 

 

77.The Net Income amount from the Income Statement is transferred to which of the following statements?   

A. the profit and loss statement

 

B. the statement of owner’s equity

 

C. the balance sheet

 

D. the trial balance

 

 

 

78.The ending balance of the capital account appears as a separate line item on what two statements?   

A. the trial balance and the income statement

 

B. the statement of owner’s equity and the income statement

 

C. the statement of owner’s equity and the balance sheet

 

D. the income statement and the balance sheet

 

 

 

79.Which of the following accounts is NOT a nominal account?   

A. Salaries Expense

 

B. Moriah Paige, Drawing

 

C. Rent Revenue

 

D. Office Supplies

 

 

 

80.An accounting system that involves recording the effects of each transaction as debits and credits is   

A. completing one T account.

 

B. the double-entry system.

 

C. preparing financial statements.

 

D. analyzing a business transaction.

 

 

 

81.Which of the following does NOT describe a transposition?   

A. It is an error.

 

B. It involves misplaced digits in a number.

 

C. It causes the difference between the debit total and the credit total to be divisible by 2.

 

D. It causes the trial balance to be out of balance.

 

 

 

82.Which of the following would result in an error when preparing the Trial Balance?   

A. Placing the Withdrawal account balance in the Debit column

 

B. Placing a Revenue account balance in the Credit column

 

C. Placing the balance in Prepaid Rent in the Credit column

 

D. Placing the Accounts Payable balance in the Credit column

 

 

 

83.Which of the following would cause the Trial Balance to be out of balance?   

A. Placing the Capital account balance in the Credit column

 

B. Placing the Equipment account balance in the Debit column

 

C. Placing the Rent Expense account balance in the Debit column

 

D. Placing the Accounts Receivable balance in the Credit column

 

 

 

84.Which of the following would cause the Debit column and the Credit column of the Trial Balance to be unequal?   

A. Placing the Fees Income balance in the Credit column

 

B. Placing the Prepaid Rent balance in the Credit column

 

C. Placing the Rent Expense balance in the Debit column

 

D. Placing the Office Equipment balance in the Debit column