Ch 2-2 Practice exercises Trial Balance Errors For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much. If the debit and credit totals would be equal, enter zero ("0") in the amount box a. The payment of an insurance premium of $5,610 for a three-year policy was debited to Prepaid Insurance for $6,510 and credited to Cash for $5,610. Which of the following is true? The debit and credit totals of the trial balance would be equal. If the totals on the trial balance are not equal, by how much is one column higher than the other? b. A payment of $2,200 on account was debited to Accounts Payable for $2,420 and credited to Cash for $2,420 Which of the following is true? The debit and credit totals of the trial balance would be equal. If the totals on the trial balance are not equal, by how much is one column higher than the other? $ c. A purchase of supplies on account for $3,720 was credited to Supplies for $3,720 and credited to Accounts Payable for $3,720. Which of the following is true? If the totals on the trial balance are not equal, by how much is one column higher than the other? $

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Ch 2-2 Practice exercises
Trial Balance Errors
For each of the following errors, considered individually, indicate whether the error would cause the
trial balance totals to be unequal. If the error would cause the trial balance totals to be unequal,
indicate whether the debit or credit total is higher and by how much. If the debit and credit totals
would be equal, enter zero ("0") in the amount box
a. The payment of an insurance premium of $5,610 for a three-year policy was debited to Prepaid
Insurance for $6,510 and credited to Cash for $5,610.
Which of the following is true?
The debit and credit totals of the trial balance would be equal.
If the totals on the trial balance are not equal, by how much is one column higher than the other?
b. A payment of $2,200 on account was debited to Accounts Payable for $2,420 and credited to Cash
for $2,420
Which of the following is true?
The debit and credit totals of the trial balance would be equal.
If the totals on the trial balance are not equal, by how much is one column higher than the other?
$
c. A purchase of supplies on account for $3,720 was credited to Supplies for $3,720 and credited to
Accounts Payable for $3,720.
Which of the following is true?
If the totals on the trial balance are not equal, by how much is one column higher than the other?
$

Image Transcription

Ch 2-2 Practice exercises Trial Balance Errors For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much. If the debit and credit totals would be equal, enter zero ("0") in the amount box a. The payment of an insurance premium of $5,610 for a three-year policy was debited to Prepaid Insurance for $6,510 and credited to Cash for $5,610. Which of the following is true? The debit and credit totals of the trial balance would be equal. If the totals on the trial balance are not equal, by how much is one column higher than the other? b. A payment of $2,200 on account was debited to Accounts Payable for $2,420 and credited to Cash for $2,420 Which of the following is true? The debit and credit totals of the trial balance would be equal. If the totals on the trial balance are not equal, by how much is one column higher than the other? $ c. A purchase of supplies on account for $3,720 was credited to Supplies for $3,720 and credited to Accounts Payable for $3,720. Which of the following is true? If the totals on the trial balance are not equal, by how much is one column higher than the other? $

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