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(1) If an account in the ledger has a 0 balance, is it included on the Trial Balance? (2) How are items journalized in the general journal? (3) How are items posted in the general ledger?

(1) If an account in the ledger has a 0 balance, is it included on the Trial Balance? (2) How are items journalized in the general journal? (3) How are items posted in the general ledger?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can you answer the first 3 questions please thanks!

MIDTERM PREP Review: (1) If an account in the ledger has a 0 balance, is it included on the Trial Balance? ries of (2) How are items journalized in the general journal? ng, chart of nce (3) How are items posted in the general ledger? (4) What are the required elements of a trial balance? (5) What are the required elements of an income statement? (6) What is included on a balance sheet? ie for each (7) What is the purpose of the statement of owner's equity? ype of (8) Post this transaction: Received cash on account from credit clients, $330 (9) Post this transaction: Paid a personal dental bill using the firm's bank account, $200 g proper form urnal using #, record, (10)Post this transaction: Paid $225 to have advertising leaflets printed (11) Post this transaction: Purchased land for $6,000 as future building site, paying $1,000 down and giving a note payable due in two years for the difference mplete, three (12) Post this transaction: Purchased medical equipment on account, $5205
Transcribed Image Text:MIDTERM PREP Review: (1) If an account in the ledger has a 0 balance, is it included on the Trial Balance? ries of (2) How are items journalized in the general journal? ng, chart of nce (3) How are items posted in the general ledger? (4) What are the required elements of a trial balance? (5) What are the required elements of an income statement? (6) What is included on a balance sheet? ie for each (7) What is the purpose of the statement of owner's equity? ype of (8) Post this transaction: Received cash on account from credit clients, $330 (9) Post this transaction: Paid a personal dental bill using the firm's bank account, $200 g proper form urnal using #, record, (10)Post this transaction: Paid $225 to have advertising leaflets printed (11) Post this transaction: Purchased land for $6,000 as future building site, paying $1,000 down and giving a note payable due in two years for the difference mplete, three (12) Post this transaction: Purchased medical equipment on account, $5205
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