Question Details

The information for preparing a trial balance 



	1.	Preparing a worksheet involves
a.	two steps.
b.	three steps.
c.	four steps.
d.	five steps.


2.	The adjustments entered in the adjustments columns of a worksheet are
a.	not journalized.
b.	posted to the ledger but not journalized.
c.	not journalized until after the financial statements are prepared.
d.	journalized before the worksheet is completed.


	3.	The information for preparing a trial balance on a worksheet is obtained from
a.	financial statements.
b.	general ledger accounts.
c.	general journal entries.
d.	business documents.


	4.	After the adjusting entries are journalized and posted to the accounts in the general ledger, the balance of each account should agree with the balance shown on the
a.	adjusted trial balance.
b.	post-closing trial balance.
c.	the general journal.
d.	adjustments columns of the worksheet.


5.	If the total debit column exceeds the total credit column of the income statement columns on a worksheet, then the company has
a.	earned net income for the period.
b.	an error because debits do not equal credits.
c.	suffered a net loss for the period.
d.	to make an adjusting entry.




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