Salaries Expense 525 Cash 525 What is the posting reference that will be found in the salaries expense account? 5 11 54 21 a ANSWER: Challenging DIFFICULTY: Bloom’s: Applying ACCT.WARD.16.02-03 - 02-03 LEARNING OBJECTIVES: ACCT.ACBSP.APC.05 - Accounting Cycle ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Proof that the dollar amount of the debits equals the dollar amount of the credits in the ledger means of the information from the journal was correctly transferred to the ledger all accounts have their correct balances in the ledger all the journal is accurate; the ledger may be incorrect only that the debit dollar amounts equal the credit dollar amounts only d ANSWER: Challenging DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-04 - 02-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.05 - Accounting Cycle ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic That the total dollar amount of the debits equal the total dollar amount of the credits in the ledger accounts can be verified through a(n): of accounts trial balance income statement balance b ANSWER: Moderate DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-04 - 02-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.05 - Accounting Cycle ACCREDITING STANDARDS:
Salaries Expense 525 Cash 525 What is the posting reference that will be found in the salaries expense account? 5 11 54 21 ANSWER: a DIFFICULTY: Challenging Bloom’s: Applying LEARNING OBJECTIVES: ACCT.WARD.16.02-03 - 02-03 ACCREDITING STANDARDS: ACCT.ACBSP.APC.05 - Accounting Cycle ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Proof that the dollar amount of the debits equals the dollar amount of the credits in the ledger means all of the information from the journal was correctly transferred to the ledger all accounts have their correct balances in the ledger only the journal is accurate; the ledger may be incorrect only that the debit dollar amounts equal the credit dollar amounts ANSWER: d DIFFICULTY: Challenging Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-04 - 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.05 - Accounting Cycle ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic That the total dollar amount of the debits equal the total dollar amount of the credits in the ledger accounts can be verified through a(n): of accounts trial balance income statement balance ANSWER: b DIFFICULTY: Moderate Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-04 - 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.05 - Accounting Cycle
Test-Bank-for-Accounting-26th-Edition-by-Warren.docx