Multiple Choice
A trial balance will not balance if
A) a correcting journal entry is posted twice.
B) a $50 cash dividend is debited to dividends for $500 and credited to cash for $50.
C) a $300 payment on accounts payable is debited to accounts payable for $30 and credited to cash for $30.
D) a transaction is not posted at all.
Correct Answer:
Verified
Correct Answer:
Verified
Q21: The ledger accounts are typically arranged in<br>A)chronological
Q22: The Dividends account<br>A)appears on the income statement
Q23: Which statement is <b>incorrect</b>?<br>A)Dividends represent a distribution
Q24: A debit to an asset account indicates
Q27: The entire group of accounts maintained by
Q28: The normal balance of an asset is
Q29: A debit means that an account has
Q31: Which of the following correctly identifies normal
Q55: If services are rendered on account, then<br>A)
Q138: Transactions are entered in the ledger accounts