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    Devry University
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Category > Accounting Posted 10 Dec 2017 My Price 10.00

indicate the result in the adjusted trial balance

The end of period spreadsheet is useful in preparing an adjusted trial balance from which the three financial statements can be prepared. Please indicate the result in the adjusted trial balance under the following circumstances. 

 A. An account has a debit balance. The adjustment requires a credit to that account. The debit amount is higher than the credit amount. Is the result in the adjusted trial balance a debit or credit.

 

B. An account has a debit balance. The adjustment requires a credit to that account. The credit amount is higher than the Debit amount. Is the result in the adjusted trial balance a debit or credit

 

C. An account has a credit balance. The adjustment requires a credit to that  account. Is the result in the adjusted trial balance a credit or debit.

 

 D. An account has a credit balance. The adjustment requires a debit to the account. The debit amount is higher. Is the result in the adjusted trial balance a debit or credit? 

 Please let me know why accounts receivable can never have a credit balance. Please let me know why accounts payable can never have a debit balance.

Answers

CourseLover
(12)
Status NEW Posted 10 Dec 2017 08:12 AM My Price 10.00

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