Page 33

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Chapter 2 – Page 51

Accounting Recall A Cumulative Approach PART 1 Vocabulary Review Match each term on the left side with the appropriate definition or phrase in the right-hand column. Page Ref. (63) 1. (48) 2. (51) 3. (14) 4. (48) 5. (11) 6. (9) 7. (52) 8. (47) 9. (21) 10.

Trial balance Debit Normal balance Revenue Crediting Balance sheet Shift in assets Chart of accounts Ledger Capital, withdrawals, revenue, expenses

A. B. C. D. E. F. G. H. I. J.

Total remains the same Entering numbers on right side Subdivisions of owner’s equity Group of accounts Numbering system Left side of an account Prepared as of a particular date Not an asset Side of account that increases it List of the ledger balances

PART 2 True or False (Accounting Theory) (48) (63) (63)

11. A debit always means increase. 12. There are no debit or credit columns on financial reports. 13. The trial balance lists only the ending figure for capital that goes on the balance sheet. 14. An increase in a withdrawal is a credit. 15. The trial balance is not a formal report.

(58) (63)

Solutions to Accounting Recall This Examination Reviews Chapters 1 and 2. PART 1 1. J

2. F

3. I

4. H

5. B

6. G

7. A

8. E

9. D

10. C

PART 2 11. 12. 13.

False; depends on the category True False; the beginning balance shows up on the trial balance

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Full file at https://testbankuniv.eu/College-Accounting-A-Practical-Approach-Canadian-12th-Edition-Slater-Solutions-Manual

College Accounting A Practical Approach Canadian 12th Edition Slater Solutions Manual  

Full file at https://testbankuniv.eu/College-Accounting-A-Practical-Approach-Canadian-12th-Edition-Slater-Solutions-Manual

College Accounting A Practical Approach Canadian 12th Edition Slater Solutions Manual  

Full file at https://testbankuniv.eu/College-Accounting-A-Practical-Approach-Canadian-12th-Edition-Slater-Solutions-Manual

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