Question and answer
The purpose of the trial balance is to prove that the total of the debit balances and the total of the credit balances in the ledger accounts are equal. True or False.
The purpose of the trial balance is to prove that the total of the debit balances and the total of the credit balances in the ledger accounts are equal. TRUE.
s
Question
Asked 5/22/2013 10:27:26 PM
Updated 11/22/2018 6:30:08 AM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
Edited by Masamune [11/22/2018 6:30:07 AM], Confirmed by Masamune [11/22/2018 6:30:08 AM]
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
When Delivery Equipment is purchased on account, the journal entry to record this transaction includes Answer A. debiting Delivery Equipment and crediting Accounts Payable. B. debiting Delivery Expense and crediting Cash. C. debiting Delivery Expense and crediting Accounts Payable. D. debiting Delivery Equipment and crediting Cash.
Question
Updated 3/1/2015 11:37:24 AM
1 Answer/Comment
When Delivery Equipment is purchased on account, the journal entry to record this transaction includes: debiting Delivery Equipment and crediting Accounts Payable.
Added 3/1/2015 11:37:16 AM
This answer has been confirmed as correct and helpful.
The journal provides the information needed to transfer debits and credits to the accounts in the general ledger. A. True B.False
Question
Updated 7/25/2018 1:20:19 AM
1 Answer/Comment
The journal provides the information needed to transfer the debits and credits to the accounts in the ledger. TRUE.
Added 7/25/2018 12:31:32 AM
This answer has been confirmed as correct and helpful.
Confirmed by matahari [7/25/2018 12:47:17 AM]
The balance sheet reports assets, liabilities and owner's equity on a specific date. true or false
Question
Updated 5/4/2015 2:13:46 AM
3 Answers/Comments
The balance sheet reports assets, liabilities and owner's equity on a specific date. TRUE.



Added 5/4/2015 2:13:46 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [5/4/2015 2:16:35 AM]
A contra-asset has a normal debit balance.
Question
Updated 3/1/2015 11:37:55 AM
1 Answer/Comment
A contra-asset has a normal debit balance. This statement is False.

A contra asset account is an asset account which is expected to have a credit balance (which is contrary to the normal debit balance of an asset account).

Added 5/22/2013 10:38:18 PM
This answer has been confirmed as correct and helpful.
Confirmed by debnjerry [3/1/2015 11:38:04 AM]
The account to which the Owner, Drawing account is closed at the end of the accounting period is Answer A. Revenue. B. Income Summary. C. Owner, Capital. D. Cash.
Question
Updated 5/16/2018 1:19:42 AM
1 Answer/Comment
The account to which the Owner, Drawing account is closed at the end of the accounting period is Owner, Capital.
Added 5/16/2018 1:19:42 AM
This answer has been confirmed as correct and helpful.
34,562,881
questions answered
GET
Answers.
GET THE APP.
weegy*
*
Get answers from Weegy and a team of really smart live experts.
Popular Conversations
The correct plural of the noun attorney is _______. The primary ...
Weegy: The correct plural of the noun attorney is attorneys.
10/15/2021 11:15:47 AM| 15 Answers
Fill in the blank space with an antonym of the italicized word. 1. He ...
Weegy: He couldn?t bear the cold of Alaska after living in the heat of Texas.
10/12/2021 6:08:43 PM| 11 Answers
For each blank, write a word that is an antonym of the italicized ...
Weegy: He couldn t bear the cold of Alaska after living in the HEAT of Texas.
10/15/2021 11:20:17 AM| 10 Answers
What you weigh isn t as important as the ratio of _______ to _______. ...
Weegy: A person who is Underweight is 15 to 20 percent below ideal body weight.
10/12/2021 3:26:05 AM| 7 Answers
Earthquakes can only occur at a fault if the fault experiences ...
Weegy: Faults are breaks in the earth's crust.
10/7/2021 2:14:15 PM| 4 Answers
2-2
Weegy: 2-2 = 4 User: Square root of 15
10/9/2021 9:50:59 PM| 4 Answers
To form the comparative degree of adverbs, you should add which of ...
Weegy: Faster, higher, and wider are all comparative adverbs. User: What mark of punctuation is most closely ...
10/7/2021 4:06:41 PM| 2 Answers
S
L
Points 452 [Total 1151] Ratings 5 Comments 402 Invitations 0 Offline
S
L
C
R
Points 314 [Total 4904] Ratings 0 Comments 314 Invitations 0 Offline
S
L
1
1
1
1
1
1
Points 160 [Total 2553] Ratings 16 Comments 0 Invitations 0 Online
S
L
P
P
L
P
P
Points 150 [Total 8061] Ratings 3 Comments 120 Invitations 0 Offline
S
L
Points 133 [Total 226] Ratings 5 Comments 83 Invitations 0 Offline
S
L
Points 123 [Total 714] Ratings 3 Comments 93 Invitations 0 Offline
S
L
Points 77 [Total 177] Ratings 6 Comments 17 Invitations 0 Offline
S
L
1
1
1
Points 76 [Total 3411] Ratings 6 Comments 16 Invitations 0 Offline
S
L
Points 72 [Total 239] Ratings 6 Comments 12 Invitations 0 Online
S
L
R
P
Points 65 [Total 3222] Ratings 5 Comments 15 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.