Question : 61. Which of the following will not cause a trial balance : 1224875

 

 

61. Which of the following will not cause a trial balance to be out of balance? A. The balance for the account is incorrectly computed.B. A debit entry is posted as a credit.C. A credit entry is posted to the wrong account, but still as a credit.D. An account is accidentally omitted from the trial balance.

 

62. Randomly listed below are the steps for preparing a trial balance: 

(1)

Verify that the total of the debit column equals the total of the credit column.

(2)

List the accounts from the ledger and enter their debit or credit balance in the debit or credit column of the trial balance.

(3)

List the name of the company, the title of the trial balance, and the date on which the trial balance is prepared.

(4)

Total the debit and credit columns of the trial balance.

 

 

What is the proper order of these steps? A. (3), (2), (4), and (1)B. (2), (3), (4), and (1)C. (3), (2), (1), and (4)D. (4), (3), (2), and (1)

 

63. A trial balance is prepared to: A. prove that there were no errors made in recording transactions into the journal.B. prove that postings to the ledger are made in accordance with GAAP.C. prove that each account balance is correct.D. summarize the account balances to help prepare financial statements.

 

64. The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order.  All accounts have normal balances.

Accounts payable

3,500

 

Fees earned

4,000

Accounts receivable

4,500

 

Insurance expense

800

Investment

3,000

 

Land

3,000

Cash

1,600

 

Wages expense

1,400

Dividends

2,200

 

Capital stock

9,000

 

 

 

 

 

Prepare a trial balance. The total of the debits is: A. $16,500.B. $13,400.C. $12,100.D. $9,600.

 

65. Bravada EnterprisesTransactions for Bravada Enterprises are provided below. 

Sept. 1

Bills are sent to clients for services provided in August for the amount of $2,200.

 

 

Sept. 9

Barlue Furnishings delivers $1,500 of office furniture and $500 of office supplies to Bravada, leaving an invoice for $2,000.

 

 

Sept. 15

Payment is made to Barlue for the office furniture and supplies delivered on September 9.

 

 

Sept. 23

A $630 bill for advertising for the month of September is received.

 

It will be paid on its due date in October.

 

 

Sept. 30

Salaries of $450 are paid to employees.

 

 

Refer to the transactions that occurred at Bravada Enterprises. The journal entry to record the September 1st transaction will include a debit of $2,200 to: A. Service revenue.B. Cash.C. Accounts receivable.D. Retained earnings.

 

66. Bravada EnterprisesTransactions for Bravada Enterprises are provided below. 

Sept. 1

Bills are sent to clients for services provided in August for the amount of $2,200.

 

 

Sept. 9

Barlue Furnishings delivers $1,500 of office furniture and $500 of office supplies to Bravada, leaving an invoice for $2,000.

 

 

Sept. 15

Payment is made to Barlue for the office furniture and supplies delivered on September 9.

 

 

Sept. 23

A $630 bill for advertising for the month of September is received.

 

It will be paid on its due date in October.

 

 

Sept. 30

Salaries of $450 are paid to employees.

 

 

Refer to the transactions that occurred at Bravada Enterprises. The journal entry to record the September 9th transaction will include a credit of $2,000 to: A. Furniture & Supplies.B. Cash.C. Accounts payable.D. Delivery expense.

 

67. Bravada EnterprisesTransactions for Bravada Enterprises are provided below. 

Sept. 1

Bills are sent to clients for services provided in August for the amount of $2,200.

 

 

Sept. 9

Barlue Furnishings delivers $1,500 of office furniture and $500 of office supplies to Bravada, leaving an invoice for $2,000.

 

 

Sept. 15

Payment is made to Barlue for the office furniture and supplies delivered on September 9.

 

 

Sept. 23

A $630 bill for advertising for the month of September is received.

 

It will be paid on its due date in October.

 

 

Sept. 30

Salaries of $450 are paid to employees.

 

 

Refer to the transactions that occurred at Bravada Enterprises. The journal entry to record the September 15th transaction will include a debit of $2,000 to: A. Salaries expense.B. Salaries payable.C. Prepaid expenses.D. Accounts payable.

 

68. Bravada EnterprisesTransactions for Bravada Enterprises are provided below. 

Sept. 1

Bills are sent to clients for services provided in August for the amount of $2,200.

 

 

Sept. 9

Barlue Furnishings delivers $1,500 of office furniture and $500 of office supplies to Bravada, leaving an invoice for $2,000.

 

 

Sept. 15

Payment is made to Barlue for the office furniture and supplies delivered on September 9.

 

 

Sept. 23

A $630 bill for advertising for the month of September is received.

 

It will be paid on its due date in October.

 

 

Sept. 30

Salaries of $450 are paid to employees.

 

 

Refer to the transactions that occurred at Bravada Enterprises. The journal entry to record the September 23rd transaction will include a credit of $630 to: A. Accounts receivable.B. Cash.C. Advertising expense.D. Accounts payable.

 

69. Bravada EnterprisesTransactions for Bravada Enterprises are provided below. 

Sept. 1

Bills are sent to clients for services provided in August for the amount of $2,200.

 

 

Sept. 9

Barlue Furnishings delivers $1,500 of office furniture and $500 of office supplies to Bravada, leaving an invoice for $2,000.

 

 

Sept. 15

Payment is made to Barlue for the office furniture and supplies delivered on September 9.

 

 

Sept. 23

A $630 bill for advertising for the month of September is received.

 

It will be paid on its due date in October.

 

 

Sept. 30

Salaries of $450 are paid to employees.

 

 

Refer to the transactions that occurred at Bravada Enterprises. The journal entry to record the September 30th transaction will include a credit to: A. Salaries expense.B. Salaries payable.C. Prepaid salaries.D. Cash.

 

70. Bravada EnterprisesTransactions for Bravada Enterprises are provided below. 

Sept. 1

Bills are sent to clients for services provided in August for the amount of $2,200.

 

 

Sept. 9

Barlue Furnishings delivers $1,500 of office furniture and $500 of office supplies to Bravada, leaving an invoice for $2,000.

 

 

Sept. 15

Payment is made to Barlue for the office furniture and supplies delivered on September 9.

 

 

Sept. 23

A $630 bill for advertising for the month of September is received.

 

It will be paid on its due date in October.

 

 

Sept. 30

Salaries of $450 are paid to employees.

 

 

Refer to the transactions that occurred at Bravada Enterprises. Based on these transactions, what is the total amount of expenses that should appear on Bravada’s income statement for September? A. $   430B. $   850C. $1,080D. $1,440