Which of the following procedures is correct when determining the amount to enter within the adjusted trial balance section of the worksheet?   Multiple Choice   If the trial balance section has a debit balance and the entry in the adjustments section is a debit, then subtract the amount in the adjustments section from the amount in the trial balance section.   If the trial balance section has a debit balance and the entry in the adjustments section is a credit, then subtract the amount in the adjustments section from the amount in the trial balance section.   If the trial balance section has a credit balance and the entry in the adjustments section is a credit, then subtract the amount in the adjustments section from the amount in the trial balance section.   If the trial balance section has a credit balance and the entry in the adjustments section is a debit, then add the two amounts together.

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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Which of the following procedures is correct when determining the amount to enter within the adjusted trial balance section of the worksheet?

 

Multiple Choice
  •  

    If the trial balance section has a debit balance and the entry in the adjustments section is a debit, then subtract the amount in the adjustments section from the amount in the trial balance section.

  •  

    If the trial balance section has a debit balance and the entry in the adjustments section is a credit, then subtract the amount in the adjustments section from the amount in the trial balance section.

  •  

    If the trial balance section has a credit balance and the entry in the adjustments section is a credit, then subtract the amount in the adjustments section from the amount in the trial balance section.

  •  

    If the trial balance section has a credit balance and the entry in the adjustments section is a debit, then add the two amounts together.

     

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