7. The trial balance a. shows the income earned during the year b. shows the total amount of assets c. shows the accuracy of the general ledger d. is the first financial statement prepared 8. Which account is shown on the balance sheet? a. Cash b. Utility Expense c. Withdrawals by owner d. Revenue 9. Which account is shown on the income statement? a. Equipment b. Owner, Capital Account c. Accounts Payable d. Rent Expense 10. Which account is shown on the statement of Owner's Equity? a. Fees Earned b. Accounts Receivable c. Owner withdrawals d. Accounts Payable 11 The general ledger: a) is the book of original entry. b) is the book of final entry. c) lists the transactions in chronological order. d) is before the general journal. 12 The process of initially recording business transactions in a journal is: a) sliding b) posting c) journalizing d) transposing. 13 When recording a transaction in a journal, the account listed first is always the: a) b) credit. c) increase. d) decrease. 14 How are credits distinguished from debits in the journal? a) A line separation b) A different color c) Indenting d) There is no distinction