Help me answer the 3 question18.Which of the following situations will cause total debit balance to be greater than the total credit balance?Select one:a.The amount extracted from a creditor’s account is posted to the wrong side of the trial balance.b.Sales of goods are recorded as purchases of goods in the ledger accounts.c.The amount extracted from the account of a debtor, Mr. Lee is posted as P1,000 instead of P1,100 in the trial balance.d.The purchase of fixture is recorded in the furniture account. 19.Which of the following statements regarding a trial balance is incorrect?Select one:a.A trial balance proves that no errors of any kind have been made in the account during the accounting period.b.A trial balance is a list of all of the open accounts in the ledger with their balances as of a given date.c.A trial balance helps to localize errors within an identifiable time period.d.A trial balance is a test of the equality of the debit and credit balances in the ledger. 20.Which of the following transactions does not affect the balance sheet totals?Select one:a.Withdrawal of P80,000 by the firm’s owner.b.Collect P40,000 from customers on account.c.Purchased P50,000 supplies on account.d.Pay a P300,000 note payable.

Answered: trial balance

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 8E: Would the following errors cause the trial balance to have equal or unequal totals? As a result of...

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Help me answer the 3 question

18.

Which of the following situations will cause total debit balance to be greater than the total credit balance?

Select one:

The amount extracted from a creditor’s account is posted to the wrong side of the trial balance.

Sales of goods are recorded as purchases of goods in the ledger accounts.

The amount extracted from the account of a debtor, Mr. Lee is posted as P1,000 instead of P1,100 in the trial balance.

The purchase of fixture is recorded in the furniture account.

19.

Which of the following statements regarding a trial balance is incorrect?

Select one:

A trial balance proves that no errors of any kind have been made in the account during the accounting period.

A trial balance is a list of all of the open accounts in the ledger with their balances as of a given date.

A trial balance helps to localize errors within an identifiable time period.

A trial balance is a test of the equality of the debit and credit balances in the ledger.

20.

Which of the following transactions does not affect the balance sheet totals?
Select one:

a.
Withdrawal of P80,000 by the firm’s owner.

b.
Collect P40,000 from customers on account.

c.
Purchased P50,000 supplies on account.

d.
Pay a P300,000 note payable.

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