ACG-2021C Unit 1 Exam

A tral balance can best be explained as a list of: Muluple Choice The income statement accounts used to colculate net income. Revenue, expense, and dividend accounts used to show the bolonces of the components of retained earnings The balance sheet accounts used to show the equaiity of the accounting equation. All accounts and their balances at a particular date. Posting is the process of: Mulviple Chaice Obtaining information about external transoctions from tource documents. Analyzing the impsct of the transaction on the accounting equation. Transfering the debit and credi information from the journai to individual accounts in the generai ledget. Lbting all accounts and their baiances at a particular date. Below is the company's Cash T-account. The $5,200 amount could represent which of the following? Muliple Choice Ending balance of cash Payment for salaries Purchase of supples on account Collection from customers Consider the following transactions for Julianne Corporation: a. Issue common stock for $15,000. b. Purchase equipment for $11,500 cash. c. Pay employees' salaries of $3,000. d. Provide services to customers for $6.200 cash. 1. Post the beginning Cash balance of $4,800 and then post the above transactions. 2. Calculate the ending balance of the Cash account. Complete this question by entering your answers in the tabs below. Post these transactions to the Cash T-account. Assume the balance of Cash before these transactions is $4,800