A trial balance does not balance. The owner believes the following mistakes WOULD cause animbalance. Do you agree? (Answer TRUE or FALSE for each statement)A. The owner forgot to record a cash saleB. A credit sale was recorded as a debit to sales and a debit to trade receivablesC. When transferring the bank overdraft from the Cash T account it was entered on thedebit side of the trial balanceD. Rates expense of £500 was debited to rent expenses and credited to cashE. A payment to a supplier of £690 was entered to cash as £690 but to trade payables as£609 A trial balance does not balance. The owner believes the following mistakes WOULD cause animbalance. Do you agree? (Answer TRUE or FALSE for each statement)A.The owner forgot to record a cash saleВ.When transferring the bank overdraft from the Cash T account it was entered on theA credit sale was recorded as a debit to sales and a debit to trade receivablesС.debit side of the trial balanceD.Rates expense of £500 was debited to rent expenses and credited to cashA payment to a supplier of £690 was entered to cash as £690 but to trade payables as£609Е.

A)Since the whole entry is not recorded, it will not cause any imbalance. B) since the amount is…

Answered: trial balance does not balance. The…

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 5PB: Tech Support Services has the following unadjusted trial balance as of January 31, 2019: The debit...

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Question

A trial balance does not balance. The owner believes the following mistakes WOULD cause an
imbalance. Do you agree? (Answer TRUE or FALSE for each statement)

A. The owner forgot to record a cash sale
B. A credit sale was recorded as a debit to sales and a debit to trade receivables
C. When transferring the bank overdraft from the Cash T account it was entered on the
debit side of the trial balance
D. Rates expense of £500 was debited to rent expenses and credited to cash
E. A payment to a supplier of £690 was entered to cash as £690 but to trade payables as
£609

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