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Which the account salaries expense had a credit balance

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Reference no: EM133007126

Problem 1: If the last item on a trial balance reads "Owner's Equity",this must be the

a. post-closing trial balance.

c. adjusted trial balance.

b. unadjusted trial balance.

d. reversed trial balance.

Problem 2: If a trial balance were to be prepared on the first day of the new year, and the account Salaries Expense had a credit balance, you would know that

a. the trial balance is a post-closing trial balance.

b. the adjusting entries have been recorded.

C. the trial balance is an adjusted trial balance.

d. a reversing entry has been made.

Reference no: EM133007126

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