What's the correct choice? Which of the following errors, considered individually, would cause the trial balance totals to be unequal?A receipt of P 25,200 from a customer was posted as a debit of P 22,500 to Cash and a credit of P 22,500to Accounts ReceivableA payment of P 7,600 for supplies was posted as a debit of P 6,700 to Supplies Expense and a credit of P7,600 to CashCash received from a customer on account was posted as a credit of P 22,000 to Cash and debit of P22,000 to Accounts ReceivableA payment of P 8,300 to pay the telephone bill(received last week) was posted as a debit of P 3,800 toAccounts Payable and a credit of P 3,800 to cashA payment of P 39,100 to a creditor was posted as a debit of P 93,100 to Accounts Payable and a creditof P 93,100 to Cash

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

Which of the following errors, considered individually, would cause the trial balance totals to be unequal? A receipt of P 25,200 from a customer was posted as a debit of P 22,500 to Cash and a credit of P 22,500 A to Accounts Receivable A payment ofP 7,600 for supplies was posted as a debit of P 6,700 to Supplies Expense and a credit of P B 7,600 to Cash Cash received from a customer on account was posted as a credit of P 22,000 to Cash and debit of P 22,000 to Accounts Receivable A payment of P 8,300 to pay the telephone bill(received last week) was posted as a debit of P 3,800 to D Accounts Payable and a credit of P 3,800 to cash A payment of P 39,100 to a creditor was posted as a debit of P 93,100 to Accounts Payable and a credit

Which of the following errors, considered individually, would cause the trial balance totals to be unequal? A receipt of P 25,200 from a customer was posted as a debit of P 22,500 to Cash and a credit of P 22,500 A to Accounts Receivable A payment ofP 7,600 for supplies was posted as a debit of P 6,700 to Supplies Expense and a credit of P B 7,600 to Cash Cash received from a customer on account was posted as a credit of P 22,000 to Cash and debit of P 22,000 to Accounts Receivable A payment of P 8,300 to pay the telephone bill(received last week) was posted as a debit of P 3,800 to D Accounts Payable and a credit of P 3,800 to cash A payment of P 39,100 to a creditor was posted as a debit of P 93,100 to Accounts Payable and a credit

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.
The following errors were made in journalizing transactions. In each case, calculate the amount of the error and indicate whether the debit or the credit column of the trial balance will be understated or overstated.
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.
The bookkeeper for Nevado Company has prepared the following trial balance: The bookkeeper has asked for your help. In examining the companys journal and ledger, you discover the following errors. Use this information to construct a corrected trial balance. a. The debits to the Cash account total 8,000, and the credits total 3,300. b. A 500 payment to a creditor was entered in the journal correctly but was not posted to the Accounts Payable account. c. The first two numbers in the balance of the Accounts Receivable account were transposed when the balance was copied from the ledger to the trial balance. d. The 1,500 amount withdrawn by the owner for personal use was debited to Miscellaneous Expense by mistakeit was correctly credited to Cash.
Which of these transactions requires a credit entry to Revenue? A. received cash from services performed this month B. collected balance due from customers C. received cash from bank loan D. refunded a customer for a defective product
Which of the following errors, each considered individually, would cause the trial balance totals to be unequal? A payment of $481 to a creditor was posted as a debit of $4,819 to Accounts Payable and a credit of $481 to Cash. A transaction was not posted. Cash received from customers on account was posted as a debit of $163 to Cash and a credit of $163 to Accounts Payable. A payment of $90 for insurance was posted as a debit of $40 to Prepaid Insurance and a credit of $40 to Cash.
Which of the following errors, each considered individually, would cause the trial balance totals to be unequal? A transaction was not posted. A payment of $543 to a creditor was posted as a debit of $5,431 to Accounts Payable and a credit of $543 to Cash. Cash received from customers on account was posted as a debit of $145 to Cash and a credit of $145 to Accounts Payable. A payment of $142 for insurance was posted as a debit of $92 to Prepaid Insurance and a credit of $92 to Cash.
Indicate which of the following errors, each considered individually, would cause the trial balance totals to be unequal:a. A fee of $21,000 earned and due from a client was not debited to Accounts Receivable or credited to a revenue account, because the cash had not been received.b. A receipt of $11,300 from an account receivable was journalized and posted as a debit of $11,300 to Cash and a credit of $11,300 to Fees Earned.c. A payment of $4,950 to a creditor was posted as a debit of $4,950 to Accounts Payable and a debit of $4,950 to Cash.d. A payment of $5,000 for equipment purchased was posted as a debit of $500 to Equipment and a credit of $500 to Cash.e. Payment of a cash withdrawal of $19,000 was journalized and posted as a debit of $1,900 to Salary Expense and a credit of $19,000 to Cash.Indicate which of the preceding errors would require a correcting entry.
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.
Indicate which of the following errors, each considered individually, would cause the trial balance totals to be unequal:a. A fee of $21,000 earned and due from a client was not debited to Accounts Receivableor credited to a revenue account, because the cash had not been received.b. A receipt of $11,300 from an account receivable was journalized and posted as a debit of $11,300 to Cash and a credit of $11,300 to Fees Earned.c. A payment of $4,950 to a creditor was posted as a debit of $4,950 to Accounts Payable and a debit of $4,950 to Cash.d. A payment of $5,000 for equipment purchased was posted as a debit of $500 to Equipment and a credit of $500 to Cash.e. Payment of a cash withdrawal of $19,000 was journalized and posted as a debit of $1,900 to Salary Expense and a credit of $19,000 to Cash.Indicate which of the preceding errors would require a correcting entry.
Which of the following errors, each considered individually, would cause the trial balance totals to be unequal? a payment of P96 for insurance was posted as a debit of P46 to Prepaid Insurance and a credit of P46 to Cashcash received from customers on account was posted as a debit of P140 to Cash and a credit of P140 to Accounts Payablea payment of P311 to a creditor was posted as a debit of P3,111 to Accounts Payable and a debit of P311 to Accounts Receivablea transaction was not posted