4. To find the balance of the account types that increase with a debit (asset and expense
accounts), bookkeepers will
ANS Subtract total credits from total debits (Debits - Credits)
5. The accounting cycle starts with the
ANS Analysis of business transactions
6. After analysis, the business transaction is recorded in the journal in
ANS -
Chronological order
7. A form or statement that lists the titles and balances of all ledger accounts at a given
date is known as
ANS Trial balance
8. Sydney is entering a transaction in QuickBooks. What are the two steps of manual
accounting that will happen simultaneously as she does this?
ANS Creat- ing a journal entry and posting to the ledger
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