1. All of the following accounts havenormal debit balances EXCEPT

1. Cash.
2. Wages Expense.
3. Common Stock.
4. Accounts Receivable.

2. All of the following accounts havenormal credit balances EXCEPT

1. Cash.
2. Accounts Payable.
3. Retained Earnings.
4. Wages Payable.

3. Which of the following steps would bedone last when preparing a trial balance?

1. List the name of the company, the title of the trial balance,and the date the trial balance is prepared.
2. List the accounts from the ledger, and enter their debit orcredit balance in the Debit or Credit column of the trialbalance.
3. Verify that the total of the Debit column equals the total ofthe Credit column.
4. Total the Debit and Credit columns of the trial balance.

Answer rating: 100% (QA)

ANSWER 1 Wages Expense A wage expense is the cost incurred by companies to pay hourly employees This line item may also include payroll taxes and bene... View the full answer