Reference no: EM132899814

Problem 1: If a trial balance is out of balance and the difference is divisible by 2, then

Option 1: A transposition error has occurred

Option 2: Nothing can be done.

Option 3: It is likely a calculation error

Option 4: Look to see if a debit amount has been posted or transferred as a credit, or vice versa.

Problem 2: Which of the following errors would cause the trial balance to be balanced but not correct?

Option 1: An entire journal entry for $50 is posted in reverse.

Option 2: The revenue account balance of $4500 is listed on the trial balance as a debit.

Option 3: A $75 debit is not posted.

Option 4: A $40 debit is posted as $400.

Problem 3: The ledger uses the same date conventions as the:

Option 1: Income Statement

Option 2: Balance Sheet

Option 3: Source documents

Option 4: Trial Balance

Option 5: Journal