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Author Question: What assurance do you have if you prepare a trial balance and the sum of the debits equals the sum ... (Read 57 times)

audragclark

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on: Jul 5, 2018
What assurance do you have if you prepare a trial balance and the sum of the debits equals the sum of the credits?
 
  a. that all journal entries have been posted to the ledger accounts
  b. that all journal entries have been posted to the correct ledger account
  c. that both a. and b. have occurred
  d. you cannot be assured that either a. or b. have occurred

Question 2

The difference between the asset account and the contra-asset account is known as the ___________________ _.
 Fill in the blank(s) with correct word


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Harbringer

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Reply #1 on: Jul 5, 2018
Answer to Question 1

d

Answer to Question 2

book value


audragclark

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

xiazhe

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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