CHAPTER 4: TRIAL BALANCE

Normal Account Balance of Expenses are ________?

Bank Loan Account Balance should be recorded at the ___________ side of Trial Balance.

Normal Account Balance of Revenues are ________?

Capital Account Balance should be recorded at the ___________ side of Trial Balance.

Which of the following accounts balance recorded at the Debit side of Trial Balance?

• Capital

• Discount Received

• Discount Allowed

• Account Payable

Which of the following accounts balance recorded at the Credit side of Trial Balance?

• Account Receivable

• Discount Received

• Salary

• Office Equipment

The following are 'CREDIT' normal accounts balance EXCEPT ?

• Sales Revenue

• Sales Return

• Purchase Return

• Liabilities

The following are 'DEBIT' normal accounts balance EXCEPT ?

• Assets

• Drawings

• Purchase Return

• Expenses

The following are the purposes of preparing Trial Balance EXCEPT ?

• to check the accuracy of accounting classification

• to check the accuracy of calculations

• to verify the accuracy of double-entries

• to prepare financial statement

Trial Balance is prepared based on _______ account balances.

• Double Entries

• Journal

• Source of Document

• Ledger