If an error is not detected in spite of all efforts and trial balance does not agree then what measure will be taken for the agreement of a trial balance? Should opened a rectification account Should opened an error account Should opened a compensation account Should opened a suspense account

Q: 21.Which of the following errors will not cause the debit and credit columns of the trial…

A: The trial balance is prepared to record the final balance of each account of the business as debit…

Q: Which of the following statements about the post-closing trial balance is true?   a. The…

A: Following is the answer to the given question

Q: Which of the following errors will not affect the Trial balance? a. Wrong balancing of an account b.…

A: A trial balance's main function is to confirm that the entries in a firm's accounting system are…

Q: What kinds of errors would cause difference in the trial balance. Also listexamples that would not…

A: Generally, errors such as not posting properly, only posting half of the journal entry in the ledger…

Q: If suspense account does not balance off even after rectification of errors it implies that:(a)…

A: Suspense Account Suspense account is refer as the temporary account which carry doubtful entries. It…

Q: Which one of the following errors is most likely to be revealed by the preparation of a trial…

A: Trial balance is a statement of all accounts of the business shown in two different sides called…

Q: To create a journal with adjusting entries and as well as an adjusted trial balance. Need help.…

A: Adjusting entries: Adjusting entries are those entries that are recorded at the end of the year, to…

Q: Explain why the accountant suspected that the accounts had not been adjusted prior to the…

A: Trail balance is the statement which is prepared with the aim and purpose to check that the posting…

Q: Explain why the ledger can still contain errors even through the trial balance is in balance. Give…

A: Trial balance: Trial balance is a summary of all the asset, liability, and equity accounts and their…

Q: Identify which error will cause the trial balance to be out of balance.

A: Answer - A $340 cash receipt from a customer in payment of her account posted as a $340 debit to…

Q: Explain how each of the following posting errors affects a trial balance. State whether the trial…

A: (a).              If $900 is credited to service revenue instead of unearned revenue then it would…

Q: A post-closing trial balance is prepared to test the equality of the general ledger after all…

A: Post-closing trial balance: Post-closing trial balance is the list of accounts and their balances…

Q: The unadjusted trial balance is prepared   a.prior to posting the journal entries. b.only if errors…

A: Lets understand the basics. Stage 1:- At the first stage journal entry is made. Stage 2:- After that…

Q: The ruling method can be used if an error is discovered before or after an entry was posted. A line…

A: A correcting entry in accounting is used to fix mistakes made while recording financial transactions…

Q: Which of the following statements regarding the trial balance is most likely to be invalid? The…

A: 1. 4. The preparation of the trial balance creates a starting point for the preparation of the…

Q: If a discovered accounting error is a counterbalancing error that has already corrected itself no…

A: Rectification entry means where some error has been done in past and we need to rectify that errors.

Q: A transaction is not recorded by the accountant either wholly or partially in the books of accounts…

A: There are various errors that an accountant can commit while recording or posting financial…

Q: If the trial balance agrees, it implies that:(a) There is no error in the books.(b) There may be two…

A: Trial balance: Trial balance is a summary of all the ledger accounts balances presented in a tabular…

Q: Explain why the ledger can still contain errors even though the trial balance is in balance.

A: There will be errors in ledger when journal entries are not posted correctly or omitted fully.…

Q: What should be the necessary adjusting journal entry to correct the journalizing error?

A: Introduction:- Joutnal entry:- A journal entry is the first step of the accounting process. Journal…

Q: Which of the following statements will not result in the trial balance being unequal?

A: There are several different types of errors in accounting. Accounting errors are usually…

Q: Which of the following is false? Select one: a. Recording transactions in separate special…

A: Special journals are used to record financial transactions relating to specific accounts in separate…

Q: How do you find the error of trial balance. Please explain to me in a easiest way to remember

A: Following are the steps that can be used to find out the errors in a trial balance: Step 1: Total…

Q: Explain why the ledger can still contain errors even though the trial balance is in balance. Give…

A:

Q: The post-closing trial balance will generally have fewer accounts than the trial balance. True False

A: The post-closing trial balance is prepared after closing the revenue and expense accounts. So all…

Q: Which of the following statements about a journal is false?  (a) It is not a book of original entry.…

A: Answer

Q: 7. To locate an error in a trial balance, a. look for the correct location of normal balances. b.…

A: SOLUTION TRAIL BALANCE IS A LIST OF ALL GENERAL LEDGER ACCOUNTS CONTAINED IN THE LEDGER OF A…

Q: Which of the following error will not affect trial balance? a. Rent expense of 200 were entered in…

A: A statement prepared to show that all the debits in the books are equal to that of the credits is…

Q: The following statements relate to nature of positive and negative confirmation requests. Which…

A: Concept Positive confirmation request               External confirmation request where the debtor…

Q: 29-Where the correct accounts are used but each item is shown on the wrong side of the account is an…

A: Please see the next step for the solution

Q: oods returned by Mr. Mohammed worth RO 1,500 were not entered in both the accounts. This type of…

A: Trial Balance: Trial balance is a statement in which closing balance of all ledger accounts are…

Q: Which error cannot be revealed on the preparation of the trial balance? Wrong Totalling of account…

A: We have the following question: Which error cannot be revealed on the preparation of the trial…

Q: Where the correct accounts are used but each item is shown on the wrong side of the account is an…

A: Errors in the account books are the unintentional mistakes that the person preparing the account…

Q: Identify at least four types of errors and /or omissions that would NOT be identified by a trial…

A: Answer: There are errors which don't change any balances in trial balance. They can not be easily…

Q: The adjusted trial balance for Lasell, Inc. does not reconcile. Find the errors to reconcile the…

A: Trial balance refers to a statement which show the balance of all debit accounts and credit accounts…

Q: If the total of the schedule of accounts payable does not agree with the Accounts Payable balance,…

A:

Q: Required : i Rewrite the trial balance, entering the difference if any to a suspense account a…

A: Ryan Hinds have prepared the trial balance for the year ended 31st Dec 2001. The trial balance is…

Q: The withdrawals account is normally closed by debiting it.  Group of answer choices True False

A: Closing entries means the entries to be made on the closing of any particular period . All revenue…

Q: Which of the following is the postclosing trial balance not designed to verify?   Multiple Choice…

A: Post closing trial balance means a trial balance where all item of revenue and expenses has been…

Q: f the post-closing trial balance does not balance, then the error(s) definitely occurred at some…

A: Trial balance: Trial balance is a summary of all the asset, liability, and equity accounts and their…

Q: If the two totals in a trial balance are equal, does that automatically mean there are no errors in…

A: A trial balance shows the compilation of all ledger balances into the debit and credit side.

Q: If using a short method if the account is not debit to rectify this error will debi that account O…

A: solution concept when a error of omission happens in debiting a account the error can be rectified…

Q: Accounts often need to be adjusted because Select one: a. there are never enough accounts to record…

A: For the adjustments of the accounts, the adjusting entries are to be recorded in the books at the…

Q: Adjusting entries must be done to ensure that the adjusted trial balance:  Select one: shows a more…

A: Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year,…