Class 6 Activities

CDE4. The following trial balance was prepared incorrectly

• Rearrange the accounts in the proper order.
• Calculate the total of the trial balance. (Small numbers are used intentionally so that you can do the calculations in your head.) Assume that each account has a normal balance.

CDE5. On June 2, 2023, a telephone expense of $210 was debited to Repair Expense. On July 11, 2023, this error was found. Prepare the corrected journal entry. When would a correcting entry not be needed?

CDE6. Fill in the blanks with the correct terms from the list below.

1. is the process of transferring information from the journal to the ledger accounts.
2. Transactions are first recorded in the ...
3. The accidental rearrangement of the digits of a number is called ..
4. A(n) is an informal listing of the ledger accounts and their balances that helps prove the equality of debits and credits.
5. A(n) .. Is a business event that has a monetary impact on the companys financial statements and is recorded as a journal entry?
6. There are nine steps in the ...
7. When a businesss fiscal year ends at a low point in business activity, it is called a(n) ...
8. Adding the account number of the ledger account in the PR column of the journal and inserting the journal page on the ledger account is called. ..
9. A(n) is a 12-month period a business chooses for its accounting year.
10. A(n) is a collection of accounts that includes all the individual balances that are necessary to produce financial statements.