The unadjusted trial balance is preparedO a. only if errors are suspected.O b. prior to determining the account balance in the ledger.O c. after the journal entries are posted.O d. prior to posting the journal entries.

The financial statement is the representation of the financial data of the company. It is used by…

Answered: The unadjusted trial balance is…

Business

Accounting

The unadjusted trial balance is prepared

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 20E: Errors in trial balance Identify the errors in the following trial balance. All accounts have normal...

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The unadjusted trial balance is prepared
O a. only if errors are suspected.
O b. prior to determining the account balance in the ledger.
O c. after the journal entries are posted.
O d. prior to posting the journal entries.

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Identify the errors in the following trial balance. All accounts have normal balances.
The following Post-Closing Trial Balance contains errors. Prepare a corrected Post-Closing Trial Balance:
Errors in trial balance Identify the errors in the following trial balance. All accounts have normal balances.
Prepare an unadjusted trial balance, in correct format, from the alphabetized account information as follows. Assume all accounts have normal balances.
Prepare an unadjusted trial balance, in correct format, from the following alphabetized account information. Assume accounts have normal balances.
The following errors were made in journalizing transactions. In each case, calculate the amount of the error and indicate whether the debit or the credit column of the trial balance will be understated or overstated.
Posting: involves transferring the information in journal entries to the general ledger. is an optional step in the accounting cycle. is performed after a trial balance is prepared. involves transferring information to the trial balance.
The unadjusted trial balance is prepared a.prior to posting the journal entries. b.only if errors are suspected. c.prior to determining the account balance in the ledger. d.after the journal entries are posted.
For each of the following situations, indicate whether itrepresents an accounting error and explain why it is or isnot an error. Also state whether a trial balance would indicate that an error exists for each situation.d. The debit side of a journal entry was recorded in theaccounts, but the credit side was not.
For each of the following situations, indicate whether itrepresents an accounting error and explain why it is or isnot an error. Also state whether a trial balance would indicate that an error exists for each situation.b. Revenue was recognized when a customer purchased agift card for future use.
Which of the following errors will cause the trial balance totals to be unequal? A. posting the debit portion of a journal entry incorrectly when the credit portion of the entry is correctly posted B. recording the same transaction more than once C. recording the same erroneous amount for both the debit and the credit parts of a transaction
Which of the following is provided by a trial balance inwhich total debits equal total credits?a. Proof that no transaction was completely omitted fromthe ledger during the posting process.b. Proof that the correct debit or credit balance has beencomputed for each account.c. Proof that the ledger is in balance.d. Proof that transactions have been correctly analyzed andrecorded in the proper accounts.