Which of the following error will not affect trial balance? a. Rent expense of 200 were entered in rent account 200 and cash account 2000 b. Purchase of building for cash of OMR 150000 entered in building account 15000 but cash account was entered correctly c. Electricity expense of OMR 200 undercast and Rent expense overcast by RO 200 d. Salary expense of OMR 15700 was entered as 75100 in Cash account and salary account was entered correctly

Which of the following error will not affect trial balance? a. Rent expense of 200 were entered in rent account 200 and cash account 2000 b. Purchase of building for cash of OMR 150000 entered in building account 15000 but cash account was entered correctly c. Electricity expense of OMR 200 undercast and Rent expense overcast by RO 200 d. Salary expense of OMR 15700 was entered as 75100 in Cash account and salary account was entered correctly

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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Would the following errors cause the trial balance to have equal or unequal totals? As a result of the errors, which accounts are overstated (by how much) or understated (by how much)? a. A purchase of office equipment for 380 was recorded as a debit to Office Equipment for 38 and a credit to Cash for 38. b. A payment of 280 to a creditor was debited to Accounts Receivable and credited to Cash for 280 each. c. A purchase of supplies for 245 was recorded as a debit to Equipment for 245 and a credit to Cash for 245. d. A payment of 76 to a creditor was recorded as a debit to Accounts Payable for 76 and a credit to Cash for 67.
Journalize correcting entries for each of the following errors and include a brief explanation. a. A cash purchase of office equipment for 680 was journalized as a cash purchase of store equipment for 680. (Use the ruling method; assume that the entry has not been posted.) b. An entry for a 180 payment for office supplies was journalized as 810. (Use the ruling method; assume that the entry has not been posted.) c. A 620 payment for repairs was journalized and posted as a debit to Equipment instead of a debit to Repair Expense. (Use the correcting entry method to journalize the correction.) d. A 750 bill for vehicle insurance was received and immediately paid. It was journalized and posted as 660. (Use the correcting entry method to journalize the correction.)
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.a. The payment of cash for the purchase of office equipment of $12,900 was debited to Land for $12,900 and credited to Cash for $12,900.b. The payment of $1,840 on account was debited to Accounts Payable for $184 and credited to Cash for $1,840.c. The receipt of cash on account of $3,800 was recorded as a debit to Cash for $8,300 and a credit to Accounts Receivable for $3,800.
Which of the following errors does NOT prove the equality of the trial balance debit and credits? a) A Miscellaneous expense for the transportation was omitted. b) A debit entry of P11,000 for rent was posted as P10,100 c) A payment for utilities was recorded twice. d) A debit to Supplies was recorded as debit to Equipment.
Which of the following errors will not affect the Trial balance? a. Wrong totaling of purchase journal OMR 48,000 instead OMR 84,000 b. Cash paid to Mr. Said OMR 7800: Debit Mr. Said OMR 8700 and Credit Cash OMR 7800 c. Omitting Salary account OMR 12,000 and recording Cash account OMR 12,000 d. Omitting Rent account OMR 8,000 and Cash account RO 8,000
The Trial Balance of a concern has agreed but the following mistakes were discovered after the preparation of final Accounts. (a) No adjustment entry was passed for an amount of $2,000 relating to outstanding rent. (b) Purchase book was overcast by $1,000.(c) $4,000 depreciation of Machinery has been omitted to be recorded in the book. (d) $600 paid for purchase of stationary has been debited to Purchase A/c.(e) Sales books was overcast by $1,000.(f) $5,000 received in respect of Book Debt had been credited to Sales A/c. Show the effect of the above errors in Profit and Loss Account & Balance Sheet.
9. Which of the following errors would not prove the quality of the trial balance debits and credits? A. A miscellaneous expense for transportation was omitted B. A debit to supplies was recorded as debit to equipment C. A debit entry of 11,000 for rent was posted as 10,100 D. A payment for utilities was recorded twice
Studypug.com Which of the following statements will not result in the trial balance being unequal? a.A debit of $400 was incorrectly posted to Supplies instead of Supplies Expense. b.A debit of $400 was posted to Supplies as a debit of $40. c.A debit of $400 was incorrectly posted as a credit of $400 to Supplies. d.A debit of $400 to Supplies was completely omitted.
A trial balance has total debits of $20,000 and total credits of $24,500. Which one of the following errors would create this imbalance? Explain. a. A $2,250 debit to Utilities Expense in a journal entry was incorrectly posted to the ledger as a $2,250 credit, leaving the Utilities Expense account with a $3,000 debit balance. b. A $4,500 debit to Salaries Expense in a journal entry was incorrectly posted to the ledger as a $4,500 credit, leaving the Salaries Expense account with a $750 debit balance. c. A $2,250 credit to Consulting Fees Earned (Revenues) in a journal entry was incorrectly posted to the ledger as a $2,250 debit, leaving the Consulting Fees Earned account with a $6,300 credit balance. d. A $2,250 debit posting to Accounts Receivable was posted mistakenly to Land. e. A $4,500 debit posting to Equipment was posted mistakenly to Cash. f. An entry debiting Cash and crediting Accounts Payable for $4,500 was mistakenly not posted.
1-Which of the following is an Example of Partial Omission? a. Rent expense of RO 150 were entered in Rent account only b. Rent expense of RO 150 was entered as RO 510 in both the accounts c. Rent expense of RO 150 were not entered at tall d. Rent expense of RO 150 was entered as RO 1500 in both the accounts Clear my choice 2-Which of the following is an example of Error of Complete Omission? a. Salary of RO 200 was entered as RO 2000 in both the accounts b. Salary paid RO 200 was entered only in Salary account c. Salary of RO 200 was entered as RO 20000 in cash account d. Salary paid RO 200 was not entered in both the accounts Clear my choice 3-Which of the following is an example of Books of Prime entry? a. trial balance b. Cash disbursement journal c. purchase ledger d. sales ledger 4-Financial Statements prepared by the business by using Computerized accounting system is an example of a. Both input and output…
Which of the following errors would cause a trial balance to have unequal totals? Explain your answers. a.A payment to a creditor was recorded as a debit to Accounts Payable for $129 and as a credit to Cash for $102. b.A payment of $150 to a creditor for an account payable was debited to Accounts Receivable and credited to Cash. c.A purchase of office supplies of $420 was recorded as a debit to Office Supplies for $42 and as a credit to Cash for $42. d.A purchase of equipment for $450 was recorded as a debit to Supplies for $450 and as a credit to Cash for $450.
The following errors were detected: The cash balance is overstated by $5,000. Rent expense of $340 was erroneously posted as a credit rather than a debit. A $6,800 credit to Service revenue was not posted. A $400 debit to Accounts receivable was posted as $40. The balance of Utilities expense is understated by $70. A $900 purchase of supplies on account was neither journalized nor posted. Equipment should be $16,490. Requirement Prepare the corrected trial balance on February 29, 2020. JOURNAL ENTRIES ARE NOT REQUIRED. Prepare the company's financial statements for the month of February 2020. (Income statement, Statement of Owner’s Equity and the Balance Sheet)