Ledgers and trial balance quiz

1. 1.Customer balances are $400, $1,250 and $0; Accounts Receivable shows $1,850. By how much does the control account exceed the subledger?

   Your answer (dollars)
2. 2.Posting means:

   Preparing the trial balanceClosing the periodMailing invoicesCopying journal lines into ledger accounts
3. 3.Which errors leave the trial balance in balance? Select all that apply.

   Debit posted, credit not postedEntry recorded twiceRent debited to EquipmentTransaction omitted entirely

   Select all that apply.

4. 4.A difference of $270 between debits and credits most likely suggests:

   A complete reversalNothingAn omitted transactionA transposition (divisible by 9)
5. 5.Which trial balance contains only permanent accounts?

   Post-closingNoneAdjustedUnadjusted
6. 6.A running balance in a general ledger helps you:

   Skip postingHide errorsAvoid closingSpot the row where a balance went wrong
7. 7.A trial balance that balances proves:

   There are no omitted transactionsStatements are correctTotal debits equal total creditsEvery entry used the right accounts
8. 8.A subledger is:

   A list of closing entriesA bank statementAnother name for the trial balanceDetail supporting a control account
9. 9.Accounts Payable opens at $2,400 credit; bills of $700 and $350 are posted and $1,000 is paid. Closing credit balance?

   Your answer (dollars)
10. 10.A suspense account balance should be:

    Investigated and clearedIgnored if smallClosed to revenueLeft indefinitely
11. 11.Service Revenue has credits of $900, $1,100 and $650 and one $150 debit correction. Credit balance?

    Your answer (dollars)
12. 12.A $350 credit was posted as a debit. What is the trial-balance difference?

    Your answer (dollars)
13. 13.Match each error to whether it breaks trial-balance equality.

    One side not postedChoose…Breaks equalityStill balancesComplete reversalChoose…Breaks equalityStill balancesWrong amount on both sidesChoose…Breaks equalityStill balancesTransposition on one sideChoose…Breaks equalityStill balancesTwo equal offsetting errorsChoose…Breaks equalityStill balances
14. 14.In which column does Accumulated Depreciation appear on a trial balance?

    NeitherBothCreditDebit
15. 15.Where should you look first when totals differ by an amount that appears in the books?

    For a duplicated entryAt closing entriesFor a reversalFor a side that wasn't posted
16. 16.Cash opens at $3,000 debit, receives debits of $1,200 and $800, and credits of $950. Closing balance?

    Your answer (dollars)

Explanations for every option appear after you submit. Ledgers and trial balance quiz is self-practice, not a proctored test.