Trial balance bingo

Exercise and reference answers

Clues and terms

1. Clue

   Statement listing every ledger balance.

   Item

   Trial balance

2. Clue

   Book the balances are taken from.

   Item

   Ledger

3. Clue

   Side carrying assets and expenses.

   Item

   Debit side

4. Clue

   Side carrying liabilities and revenues.

   Item

   Credit side

5. Clue

   When both totals come out equal.

   Item

   Agreement

6. Clue

   Debit balances such as machinery.

   Item

   Assets

7. Clue

   Credit balances such as creditors.

   Item

   Liabilities

8. Clue

   Amounts owed to the firm, a debit balance.

   Item

   Receivables

9. Clue

   Amounts owed by the firm, a credit balance.

   Item

   Payables

Instructions

Read each clue and tap the term it describes.

Explanation