1) Which step in the accounting information system involves assessing the equality of total debits and total credits?

2) A list of all account names used to record transactions of a company is referred to as a __________

3) Consider the following T-account for Accounts payable. Compute the ending balance.

Accounts PayableDebit Credit 10,2008,000 5,000 4,600

4) Prepare the journal entries for these transactions

• Purchased equipment for $25,000 for 10% cash and the rest on credit
• Provided services to customers on credit of $5,100.
• Pay the current month’s rent of $1,700.
• Purchase office supplies on account for $1,900.
• Pay employee salaries of $1,500 for the current month

5) Prepare journal entries for the following transactions in September.

6) Consider the recorded transactions below. a) describe the business event behind each journal entry and b) calculate the ending balances in the Cash and Accounts Receivable accounts

7) From this list, prepare a trial balance in the proper order. accounts have their normal debit or credit balance. Supplies, $1,100; Buildings, $38,000; Salaries Payable, $300; Common Stock, $18,000; Accounts Payable, $1,350; Utilities Expense, $2,000; Prepaid Insurance, $1,100; Service Revenue, $17,800; Accounts Receivable, $2,500; Cash, $1,800; Salaries Expense, $4,700; Retained Earnings, $13,750.