For each of the following errors, indicate on the table below the amount by which the trial balance will be out of balance and which trial balance column (debit or credit) will have the larger total as a result of the error.
a. $100 debit to Cash was debited to the Cash account twice.
b. $1,900 credit to Sales was posted as a $190 credit.
c. $5,000 debit to Office Equipment was debited to Office Supplies.
d. $625 debit to Prepaid Insurance was posted as a $62.50 debit.
e. $520 credit to Accounts Payable was not posted.
Correct Answer:
Verified
Q162: Montgomery Marketing Co. had assets of $475,000;
Q182: List all the necessary steps for recording
Q182: Unearned revenue is classified as _ that
Q187: The balances for the accounts of
Q189: The following trial balance was prepared from
Q189: The three general categories of accounts in
Q193: Josephine's Bakery had the following assets
Q195: _ is the process of transferring journal
Q197: After preparing an (unadjusted) trial balance
Q236: Revenues and expenses are two categories of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents