31) When listing the accounts on the trial balance, we list the________ accounts first and then the ________ accounts.
A) income statement; cash flow statement
B) asset; liability
C) income statement; balance sheet
D) revenues; stockholders' equity
32) An example of a transposition error is writing:
A) $400 as $40
B) $1,000 as $2,000
C) $300 as $600
D) $1,200 as $2,100
33) An example of a slide-type error is writing:
A) $1,200 as $2,100.
B) $300 as $600.
C) $1,000 as $2,000.
D) $400 as $40.
34) A company did not record the receipt and payment of an utility bill for $500. Is the trial balance out of balance?
A) No.
B) Yes, by $500.
C) Yes, by $1,000.
D) Yes, by an indeterminate amount.
35) A company posted a $2,000 debit to Cash as $200. The credit of $2,000 to Service Revenue in the entry was posted correctly. Is the trial balance out of balance?
A) No.
B) Yes, by $200.
C) Yes, by $1,800.
D) Yes, by $2,000.
36) A company omitted a journal entry to record service revenue of $5,000 on account. Is the trial balance out of balance?
A) No.
B) Yes, by $5,000.
C) Yes, by $10,000.
D) Yes, by an indeterminate amount.
37) A company recorded a cash receipt on account incorrectly. They debited Accounts Receivable for $500 and credited Cash for $500. Is the trial balance out of balance?
A) No.
B) Yes, by $500.
C) Yes, by $1,000.
D) Yes, by $1,500.
38) When listing the assets in the trial balance, the number for Accounts Receivable was transposed. The correct balance is $4,100 and the number written is $1,400. Is the trial balance out of balance?
A) No.
B) Yes, by $1,400.
C) Yes, by $2,700.
D) Yes, by $4,100.
39) A company recorded a cash payment incorrectly. They debited Accounts Receivable for $1,000 and credited Cash for $1,000. The correct entry would debit Accounts Payable for $1,000 and credit Cash for $1,000. Is the trial balance out of balance?
A) No.
B) Yes, by $1,000.
C) Yes, by $2,000.
D) Yes, by an indeterminate amount.
40) When listing the accounts on the trial balance, where is the account Dividends listed?
A) It is not listed on the trial balance.
B) After Retained Earnings.
C) After Service Revenue or Sales Revenue.
D) After all the expense accounts.