At year-end, a trial balance showed total credits exceeding total debits by $6,050. This difference could have been caused by:Multiple ChoiceAn error in the general journal where a $6,050 increase in Accounts Receivable was recordedan increase in Cash.A net income of $6,050.The belance of $60,500 in Accounts Payable being entered in the trial balance as $6,050.The balance of $6,820 in the Office Equipment account being entered on the trial balance as a debi: of $770.An error in the general journal where a $6,050 increase in Accounts Payable was recorded as a decrease in Accounts Payable.< Prev11 of 30Next>

In a trial balance , the debit side must always equal the credit side. If the debit side does not…

error in the general yournal where a S6,050 increase in ACCounts Receivable was recorded as an increase in Cash. et income of $6,050. balance of $60,500 in Accounts Payable being entered in the trial balance as $6,050. - balance of S6,820 in the Office Equipment account being entered on the trial balance as a debit of $770. error in the general journal where a $6,050 increase in Accounts Payable was recorded as a decrease in Accounts Payable.

error in the general yournal where a S6,050 increase in ACCounts Receivable was recorded as an increase in Cash. et income of $6,050. balance of $60,500 in Accounts Payable being entered in the trial balance as $6,050. - balance of S6,820 in the Office Equipment account being entered on the trial balance as a debit of $770. error in the general journal where a $6,050 increase in Accounts Payable was recorded as a decrease in Accounts Payable.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 5PA: The Colby Group has the following unadjusted trial balance as of August 31, 2019: The debit and...

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Tech Support Services has the following unadjusted trial balance as of January 31, 2019: The debit and credit totals are not equal as a result of the following errors: a. The cash entered on the trial balance was overstated by 8,000. b. A cash receipt of 4,100 was posted as a debit to Cash of 1,400. c. A debit of 12,350 to Accounts Receivable was not posted. d. A return of 235 of defective supplies was erroneously posted as a 325 credit to Supplies. e. An insurance policy acquired at a cost of 3,000 was posted as a credit to Prepaid Insurance. f. The balance of Notes Payable was overstated by 21,000. g. A credit of 3,450 in Accounts Payable was overlooked when the balance of the account was determined. h. A debit of 6,000 for a withdrawal by the owner was posted as a debit to Thad Engelberg, Capital. i. The balance of 28,350 in Advertising Expense was entered as 23,850 in the trial balance. j. Miscellaneous Expense, with a balance of 4,600, was omitted from the trial balance. Instructions 1. Prepare a corrected unadjusted trial balance as of January 31, 2019. 2. Does the fact that the unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts? Explain.
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