Practice Ledger To Trial Balance (2.6.2) - Journal, Ledger, and Trial Balance

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9 questions

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Exercise
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3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is a ledger?
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Think about where transactions are tracked.
Question 2.
How is a trial balance prepared?
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What happens to the debits and credits during this process?
3Question 3.
What does a trial balance show?
- Only debits
- Only credits
- Debits and credits
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Which types of balances does it need to reflect?
4Question 4.
True or False: A ledger is the same as a trial balance.
- True
- False
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Think about their definitions.
Question 5.
You have the following account balances: Cash A/c $5,000, Sales A/c $10,000, Purchases A/c $5,000. Prepare a trial balance.
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Think about totaling each side.
Question 6.
Analyze why an incorrect trial balance may still result in accurate financial statements.
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Consider how specific errors might negate each other.

5 more questions in this section. Enroll free to practise them all.