{"id":184996,"date":"2025-01-22T02:31:55","date_gmt":"2025-01-22T02:31:55","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=184996"},"modified":"2025-01-22T02:31:58","modified_gmt":"2025-01-22T02:31:58","slug":"which-image-below-correctly-shows-a-trial-balance-worksheet","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2025\/01\/22\/which-image-below-correctly-shows-a-trial-balance-worksheet\/","title":{"rendered":"Which image below correctly shows a trial balance worksheet"},"content":{"rendered":"\n

Which image below correctly shows a trial balance worksheet? TRIAL BALANCE CREDIT DEBIT $900 $1150 ACCOUNT CASH ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE NOTES PAYABLE OWNER’S EQUITY OWNER’S WITHDRAWAL SALES REVENUE RENT REVENUE SALARIES EXPENSE ADVERTISING EXPENSE $600 $650 $900 a $500 $900 $300 $700 $1100 TRIAL BALANCE ACCOUNT CASH ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE NOTES PAYABLE SALARIES EXPENSE ADVERTISING EXPENSE SALES REVENUE RENT REVENUE OWNER’S EQUITY OWNER’S WITHDRAWAL DEBIT CREDIT $900 $1150 $600 $650 $700 $1100 $900 $300 $900 $500 O CREDIT DEBIT $900 $1150 $700 $1100 TRIAL BALANCE ACCOUNT CASH ACCOUNTS RECEIVABLE SALARIES EXPENSE ADVERTISING EXPENSE ACCOUNTS PAYABLE NOTES PAYABLE OWNER’S EQUITY OWNER’S WITHDRAWAL SALES REVENUE RENT REVENUE O $600 $650 $900 $500 $900 $300 CREDIT DEBIT $900 $1150 $600 $650 TRIAL BALANCE ACCOUNT CASH ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE NOTES PAYABLE SALES REVENUE RENT REVENUE SALARIES EXPENSE ADVERTISING EXPENSE OWNER’S EQUITY OWNER’S WITHDRAWAL $900 $300 o $700 $1100 $900 $500<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The correct answer and explanation is:<\/mark><\/strong><\/p>\n\n\n\n

The correct trial balance worksheet is the one where the total debits<\/strong> equal the total credits<\/strong> while listing all accounts systematically with their respective balances under the appropriate columns. Based on the details provided, the worksheet should adhere to the basic structure of a trial balance, ensuring the following principles:<\/p>\n\n\n\n

    \n
  1. Accounts are categorized into assets, liabilities, equity, revenues, and expenses.<\/strong><\/li>\n\n\n\n
  2. Debits<\/strong> include assets, expenses, and withdrawals, while credits<\/strong> include liabilities, equity, and revenues.<\/li>\n\n\n\n
  3. Total Debits = Total Credits<\/strong>, ensuring the accounts are balanced.<\/li>\n<\/ol>\n\n\n\n

    Explanation:<\/h3>\n\n\n\n

    A trial balance is a worksheet used to ensure that the sum of all debits matches the sum of all credits in a double-entry accounting system. It provides a foundation for preparing financial statements and serves as a tool for detecting recording errors.<\/p>\n\n\n\n

    Each account’s balance is recorded in either the debit or credit column, based on its nature:<\/p>\n\n\n\n

      \n
    • Assets<\/strong> (e.g., cash, accounts receivable) and expenses<\/strong> (e.g., salaries expense, advertising expense) increase with debits and decrease with credits.<\/li>\n\n\n\n
    • Liabilities<\/strong> (e.g., accounts payable, notes payable), equity<\/strong> (e.g., owner\u2019s equity, owner\u2019s withdrawals), and revenues<\/strong> (e.g., sales revenue, rent revenue) increase with credits and decrease with debits.<\/li>\n<\/ul>\n\n\n\n

      If the trial balance is not balanced, it indicates an error in the accounting process, such as:<\/p>\n\n\n\n

        \n
      • Recording only one side of a transaction.<\/li>\n\n\n\n
      • Incorrect amounts in the ledger.<\/li>\n\n\n\n
      • Posting an entry to the wrong account.<\/li>\n<\/ul>\n\n\n\n

        In the correct trial balance, total debits and credits are equal (e.g., $3,000 debits = $3,000 credits), confirming that the accounting system has followed the double-entry principle accurately. Balancing does not guarantee the absence of all errors, but it confirms arithmetic accuracy and proper ledger posting.<\/p>\n\n\n\n

        A proper trial balance also ensures clarity by listing accounts in a structured order (assets, liabilities, equity, revenues, expenses) for easy preparation of income statements and balance sheets.<\/p>\n","protected":false},"excerpt":{"rendered":"

        Which image below correctly shows a trial balance worksheet? TRIAL BALANCE CREDIT DEBIT $900 $1150 ACCOUNT CASH ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE NOTES PAYABLE OWNER’S EQUITY OWNER’S WITHDRAWAL SALES REVENUE RENT REVENUE SALARIES EXPENSE ADVERTISING EXPENSE $600 $650 $900 a $500 $900 $300 $700 $1100 TRIAL BALANCE ACCOUNT CASH ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE NOTES PAYABLE SALARIES […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-184996","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/184996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=184996"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/184996\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=184996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=184996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=184996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}