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General accounting

V. 25. From the adjusted trial balance to the balance sheet: exercises

 

Exercises

All the exercises refer to .

  1. How much do clients owe us? Do you read the figure in a revenue or a capital account?

  2. If the result of the accounting cycle appears in debit of the income statement, is it a profit or a loss?

  3. How much did the machines cost? And how much have we already paid to the supplier?

  4. In a balance sheet, can we say that assets correspond to accounts whose balances are in debit, and liabilities to accounts whose balances are in credit?

 

 

 

Exercise 1: How much do clients owe us? Do you read the figure in a revenue or a capital account?


 

 

 

Exercise 2: If the result of the accounting cycle appears in debit of the income statement, is it a profit or a loss?


 

 

 

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Exercise 3: How much did the machines cost? And how much have we already paid to the supplier?


 

 

 

 

Exercise 4: In a balance sheet, can we say that assets correspond to accounts whose balances are in debit, and liabilities to accounts whose balances are in credit?


 

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