A trial balance failed to agree. The total of the debits amounted to £315,600; the credit balances totalled £310,600. Which of the following might explain the difference?
A) Rent was recorded as (Dr Bank £5,000, Cr. Insurance £5,000)
B) An invoice for the purchase of inventory was omitted from the books
C) A sundry receipt of £2,250 was debited to income and credited to bank
D) An invoice for stationery for £2,250 was debited to stationery and also debited to bank.
Correct Answer:
Verified
Q2: The main purpose of a trial balance
Q3: Which of the following items appear on
Q4: What is the balance brought down on
Q5: Which of the following errors will cause
Q6: At the end of the financial year
Q8: A trial balance failed to agree. The
Q9: Which of the following is an error
Q10: Which of the following is a reversal
Q11: Which of the following is not an
Q12: It is important to prepare a trial
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