hich of the following is/are true regarding the T-account? a. the name or title of the account appears on the horizontal line. b. dates and other information can appear in T-accounts. c. one side of the space formed by the vertical line records increases in the item and the other side records decreases. d. all of the above Select one: A. dates and other information can appear in T-accounts. B. one side of the space formed by the vertical line records increases in the item and the other side records decreases. C. all of the above D. the name or title of the account appears on the horizontal line.

hich of the following is/are true regarding the T-account? a. the name or title of the account appears on the horizontal line. b. dates and other information can appear in T-accounts. c. one side of the space formed by the vertical line records increases in the item and the other side records decreases. d. all of the above Select one: A. dates and other information can appear in T-accounts. B. one side of the space formed by the vertical line records increases in the item and the other side records decreases. C. all of the above D. the name or title of the account appears on the horizontal line.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 1E: On a sheet of paper, draw the fundamental accounting equation with T accounts under each of the...

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The double-entry accounting system means A. Each transaction is recorded with two journal entries. B. Each item is recorded in a journal entry, then in a general ledger account. C. The dual effect of each transaction is recorded with a debit and a credit. D. None of these answer choices are correct.
Which of the following is true about T accounts? a.Transactions are first recorded in T accounts and then posted to the journal. b.The right side of a T account is called the debit side. c.The left side of a T account is called the credit side. d.The left side of a T account is called the debit side.
For each of the following t-accounts, calculate the missing amount and write it in the space in the t-account. Assume that the beginning and ending balance are in the normal side of the account that is, the side in which the balance increases
Which of the following is not transferred from the journal to the ledger in the posting process? a.Date b.Explanation c.Debit and credit d.Amount
What is the purpose of a worksheet? In a columnar worksheet similar to Illustration 2A–1 , what would be the result of incorrectly transferring the balance in a liability account to column K, the credit column under income statement?
Which one of the following is not a part of an account? Select one: a. Title b. Credit side c. Trial balance d. Debit side
Arrange the following steps in the posting process in correct order: a. Write the ledger account number in the Post. Ref. column of the journal. b. Write the amount of the transaction. c. Write the date of the transaction. d. Write the page number of the journal in the Post. Ref. column of the ledger account
Which of the following is incorrect? Group of answer choices A. In a double-entry accounting system every transaction will affect at least two accounts. B. Across all accounts, the total amount of debits must always equal the total amount of credits. C. A debit can be recorded on either side of the t-account depending on the type of account. D. The difference between the total debit and credit amounts for an account is called the account balance.
An account consists of Select one: a. a title, a left side, and a debit balance. b.a title, a debit side, and a credit side. c. a title, a right side, and a debit balance. d.a title, a debit balance, and a credit balance.
Indicate the effect of each transaction and the balances after each transaction. For those boxes in which no entry is required, leave the box blank. If required enter negative numbers using a minus sign
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is completed as an example.
The ledger folio column of journal is used to:(a) Record the date on which amount posted to a ledger account.(b) Record the number of ledger account to which information is posted.(c) Record the number of amounts posted to the ledger account.(d) Record the page number of the ledger account.

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a.	the name or title of the account appears on the horizontal line.
b.	dates and other information can appear in T-accounts.
c.	one side of the space formed by the vertical line records increases in the item and the other side records decreases.
d.	all of the above