Multiple Choice
For a sole proprietorship, the usual ordering of accounts in the general ledger is
A) assets, liabilities, owner's capital, drawings, revenues, and expenses.
B) assets, liabilities, drawings, owner's capital, expenses, and revenues.
C) liabilities, assets, owner's capital, revenues, expenses, and drawings.
D) owners' capital, assets, liabilities, drawings, expenses, and revenues.
Correct Answer:
Verified
Correct Answer:
Verified
Q125: Transactions are entered in the ledger first
Q126: For each of the following accounts indicate:<br>a.
Q127: The normal balance of all liability accounts
Q128: The accounting cycle is a series of
Q129: A 'T' account<br>A) is a way of
Q131: Journalize the following business transactions in general
Q132: If the trial balance is out of
Q133: Source documents can provide evidence that a
Q134: Some of the following errors would cause
Q135: A credit to the accounts receivable account<br>A)