1. Which of the following errors, considered individually, would cause the trial balance totals to be unequal? a) Cash received from a customer on account was posted as a credit of $220 to Cash and a debit of $220 to Accounts Receivable b) A payment of $76 for supplies was posted as a debit of $67 to Supplies Expense and a credit of $76 to Cash c) A payment of $391 to a creditor was posted as a debit of $931 to Accounts Payable and a credit of $931 to Cash d) A receipt of $252 from a customer was posted as a debit of $225 to Cash and a credit of $225 to Accounts Receivable e) A payment of $83 to pay the telephone bill (received last week) was posted as a debit of $38 to Accounts Payable and a credit of $38 to cash 2. In preparing the first two closing entries, to which of the following columns of the work sheet does one refer? a) Balance Sheet columns b) Adjusted Trial Balance columns c) Income Statement columns d) Trial Balance columns e) Adjustments columns 3. Accrued wages are wages that a) have been earned by employees but not paid b) have been paid c) have been neither earned by employees nor paid d) were earned by employees and have been paid e) have been paid but not earned by employees 4. The amount of net income will appear on the debit side of the Income Statement columns on a work sheet, a) if total revenue exceeded total expenses for the period b) if withdrawals have been made during the period c) if total assets exceeded total liabilities for the period d) if total expenses exceeded total revenue for the period e) it net income exceeds the owners withdrawals 5. The purchase of an asset (like equipment) for cash will.. a) increase total assets and increase total liabilities b) have no effect on total assets or total liabilities c) increase total liabilities and decrease total assets d) increase total assets and increase owners equity e) increase total assets and decrease owners equity 6. A debit may signify an increase in a(n) a) liability account b) asset account c) revenue account d) liability and a revenue account e) asset and a revenue account 7. If a $25 cash purchase of supplies is recorded as a $52 debit to Supplies Expense and a $52 credit to Cash, the result will be that a) the trial balance will be out of balance b) the Supplies Expense account will be understated c) the Cash account will be overstated d) Supplies Expense will be overstated and Cash will be understated e) none of these will be true