Documente Academic
Documente Profesional
Documente Cultură
C
2.B
3.B
4.B
5.C
6.A
7.A
8.A
T 1. Worksheet is used as a bridge connecting the trial balance and the financial statements.
F 2. A worksheet which does not contain column for "adjustments" is a 6 column worksheet which is being
T 3. In a worksheet, the amounts of debit and credit columns of both Income Statement and Balance Sheet
F 4. In a worksheet, when the total of the debit column of the Income Statement exceeds the total of the cr
F 5. In aworksheet, when the total of the credit column of the Income Statement exceeds the total of the d
T 6. When there is Profit, it is extended to the credit column of the Balance Sheet to effect the increase in O
F 7. Drawing account is the only temporary account that is found in the debit column of the statmeent of Fi
F 8. The last tep in the worksheet preparation is to enter Profit and Loss figure as a balancing amount in the
T 9.A Statement of Financial Position regardless of monthly or quarterly preparation should always be word
T 10.An interim financial statements are statements prepared at any given period during the year.
F 11. An income statement under service concern follows the modified single step form wherein all expens
F 12, The report form of a balance sheet shows the Asset, Liabilities and Owner's Equity in a horizontal orde
ncial statements.
olumn worksheet which is being called simple worksheet.
me Statement and Balance Sheet when totaled are ot- "in-balance"
ement exceeds the total of the credit, its signifies a "loss"
ement exceeds the total of the debit column, its signifies"profit"
Sheet to effect the increase in Owner's Equity
bit column of the statmeent of Financial Position section of the worksheet
ure as a balancing amount in the Statement of Comprehensive Income and Statement of financial Position columns.
eparation should always be worded "as of"
period during the year.
gle step form wherein all expenses including finance charges are deducted from revenue.
wner's Equity in a horizontal order
Lucy Tumulak, CPA
Trial Balance
December 31, 20A
Cash on Hand
Accounts Receivable
Office Supplies
Office Equipment
Furnitures and Fixtures
Accounts Payable
L. Tumulak, Capital
L.Tumulak, Drawing
Accounting & Auditing Fees
Other income
Taxes and Licenses
Rent Expense
Utilities Expense
Salaries Expense
Total
LIABILITIES
Current Liabilities
Accounts Payable 27,000.00
Total Liabilities 27,000.00
2,400.00
150,000.00
130,000.00
1,818,500.00
935,000.00
3,035,900.00