Question :
181. A trial balance prepared to A. prove that there were no errors : 1233826
181. A trial balance is prepared to
A. prove that there were no errors made in recording transactions into the journal
B. prove that no errors were made in posting to the ledger
C. prove that each account balance is correct
D. summarize the account balances to help prepare financial statements
182. The accounts in the ledger of Mickeys Park Co. are listed in alphabetical order. All accounts have normal balances.
Accounts Payable
500
Fees Earned
2,000
Accounts Receivable
800
Insurance Expense
300
Investment
1,000
Land
2,000
Cash
1,600
Wages Expense
400
Dividends
200
Capital Stock
1,800
Prepare a trial balance. The total of the debits is
A. $5,300
B. $10,600
C. $4,100
D. $10,400
E. $4,700
183. Of the following financial reports, which one is the one that will determine if the accounting equation is in balance?
A. Journal entry
B. Income statement
C. Trial balance
D. Account reconciliation
184. An overpayment error was discovered in computing and paying the wages of a Bartson Repair Shop employee. When Bartson receives cash from the employee for the amount of the overpayment, which of the following entries will Bartson make?
A. Cash, debit; Wages Expense, credit
B. Wages Payable, debit; Wages Expense, credit
C. Wages Expense, debit, Cash, credit
D. Cash, debit; Wages Payable, credit
185. If the two totals of a trial balance are not equal, it could be due to
A. failure to record a transaction
B. recording the same erroneous amount for both the debit and the credit parts of a transaction
C. an error in determining the account balances, such as a balance being incorrectly computed
D. recording the same transaction more than once
186. When a transposition error is made on the trial balance, the difference between the debit and credit totals on the trial balance will be
A. zero
B. twice the amount of the transposition
C. one-half the amount of the transposition
D. divisible by 9
187. Which of the following errors, each considered individually, would cause the trial balance totals to be unequal?
A. a transaction was not posted
B. a payment of $96 for insurance was posted as a debit of $46 to Prepaid Insurance and a credit of $46 to Cash
C. a payment of $311 to a creditor was posted as a debit of $3,111 to Accounts Payable and a debit of $311 to Accounts Receivable
D. cash received from customers on account was posted as a debit of $140 to Cash and a credit of $140 to Accounts Payable
188. Supplies purchased on account were incorrectly recorded as Office Equipment. The correcting entry would be
A. Supplies, debit; Office Equipment, credit.
B. Accounts Receivable, debit; Supplies, credit.
C. Office Equipment, debit; Supplies Expense, credit.
D. Supplies, debit; Accounts Payable, credit.
189. Which of the following errors will cause the trial balance totals to be unequal?
A. amount incorrectly entered on the trial balance
B. failure to record a transaction or to post a transaction
C. recording the same transaction more than once
D. recording the same erroneous amount for both the debit and the credit parts of a transaction
E. posting a part of a transaction correctly as a debit or credit but to the wrong account
190. The trial balance is out of balance and the accountant suspects that a transposition or slide error has occurred. What will the accountant do to find the error?
A. Determine the amount of the error and look for that amount on the trial balance.
B. Determine the amount of the error and divide by two, then look for that amount on the trial balance.
C. Determine the amount of the error and refer to the journal entries for that amount
D. Determine the amount of the error and divide by nine. If the result is evenly divided, then this type of error is likely.
