Section 1 - Instruction

You've learned that a trial balance is a list of all account balances from the general ledger. Its purpose is to verify that total debits equal total credits.

Let's practice taking those final T-account balances and assembling them correctly.

Engagement Message

Ready to check your balance?

Section 2 - Practice

Type

Sort Into Boxes

Practice Question

Given these account balances from a company's general ledger, sort them into the correct column for a trial balance.

Labels

  • First Box Label: Debit Column
  • Second Box Label: Credit Column

First Box Items

  • Cash $5,000
  • Equipment $10,000
  • Rent Expense $1,000

Second Box Items

  • Accounts Payable $3,000
  • Owner's Equity $8,000
  • Service Revenue $5,000
Section 3 - Practice

Type

Fill In The Blanks

Markdown With Blanks

This trial balance is missing one number. Calculate the correct balance for Owner's Equity to make the totals equal.

Trial Balance Cash: $4,000 (Debit) Supplies: $500 (Debit) Accounts Payable: $1,000 (Credit) Owner's Equity: [[blank:$3,500]] (Credit)

Totals: $4,500 (Debit) = $[[blank:4,500]] (Credit)

Suggested Answers

  • $3,500
  • 4,500
  • $4,000
  • $5,500
Section 4 - Practice

Type

Swipe Left or Right

Practice Question

Some errors are caught by a trial balance, but others are not. For each error, decide if the trial balance would still balance.

Labels

  • Left Label: Would NOT Balance
  • Right Label: Would Still Balance

Left Label Items

  • A journal entry was posted twice.
  • A debit of 50waspostedas50 was posted as 500.
  • The credit half of a journal entry was not posted.

Right Label Items

  • A cash payment for rent was debited to Supplies Expense instead of Rent Expense.
  • A correct journal entry was simply never recorded at all.
Section 5 - Practice

Type

Multiple Choice

Practice Question

A bookkeeper finds that their trial balance's debit column totals $25,100 and the credit column totals $25,010. This $90 difference is most likely caused by:

A. A transposition error (e.g., writing 10 as 01) B. Forgetting to record a transaction C. Posting a debit to the wrong account D. The business having a bad month

Suggested Answers

  • A - Correct
  • B
  • C
  • D
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