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1. What are two differences between total debits on an adjusted trial balance and total assets...

1. What are two differences between total debits on an adjusted trial balance and total assets on a
balance sheet (assuming there is no accumulated depreciation)? (2 Points)
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Answer #1

Two Differences Between Total Debits on an adjusted trial balance and Total assets on a balance sheet :

1) Dividends - It Appears on Debit Side in Adjusted Trail balance , where as in balance sheet it comes under retained earnings section there it is deducted from net income

2) Expenses - It Apperas on debit side in adjusted trial balance where as expenses are deducted from revenue this resultant net income is form part of retained earnings in balance sheet.

Note : Please comment down for any further clarifications,Thank you :)

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