Question Details

The primary purpose of the trial balance is to test the



1.	Here is the trial balance for McLeary Company:

McLeary Company
Trial Balance
January 31, 2010
Cash	$  3,000	
Accounts Receivable	2,000	
Art Supplies	3,000	
Office Supplies	5,000	
Prepaid Rent	7,000	
Prepaid Insurance	5,000	
Art Equipment	5,000	
Office Equipment	3,000	
Accounts Payable		$5,000
Art McLeary, Capital		15,000
Art McLeary, Withdrawals	? 	
Advertising Fees Earned		? 
Wages Expense	? 	
Utilities Expense	5,000	
Telephone Expense	   3,000	________
	$       A	$           B

If the trial balance showed a balance of $8,000 in the Wages Expense account and a balance of $43,000 in the Advertising Fees Earned account, what would be the amount of A?
a.	$63,000
b.	$53,000
c.	$68,000
d.	$58,000



	2.	Here is the trial balance for McLeary Company:

McLeary Company
Trial Balance
January 31, 2010
Cash	$  3,000	
Accounts Receivable	2,000	
Art Supplies	3,000	
Office Supplies	5,000	
Prepaid Rent	7,000	
Prepaid Insurance	5,000	
Art Equipment	5,000	
Office Equipment	3,000	
Accounts Payable		$  5,000
Art McLeary, Capital		15,000
Art McLeary, Withdrawals	? 	
Advertising Fees Earned		? 
Wages Expense	? 	
Utilities Expense	5,000	
Telephone Expense	   3,000	________
	$       A	$           B

If the trial balance showed a balance of $4,000 in the Wages Expense account and a balance of $42,500 in the Advertising Fees Earned account, what would be the amount of the Art McLeary, Withdrawals account?
a.	$37,500
b.	$26,500
c.	$17,500
d.	$31,500


	3.	Which of the following errors will not cause the debit and credit columns of the trial balance to be unequal?
a.	A debit entry was recorded in the wrong account.
b.	A debit was entered in an account as a credit.
c.	The account balance was carried to the wrong column of the trial balance.
d.	The balance of an account was incorrectly computed.



	4.	The primary purpose of the trial balance is to test the
a.	recording of transactions.
b.	analysis of transactions.
c.	equality of debit and credit balances in the ledger.
d.	equality of debit and credit entries in the journal.



	5.	A $155 credit item is posted as a debit. The trial balance column totals therefore will differ by
a.	$310.
b.	$620.
c.	$155.
d.	$0.




Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help