Which of the following errors, each considered individually, would cause the trial balance to be out of balance? A transaction was not posted. O A payment of $158 to a creditor was posted as a debit to Accounts Payable and a debit of $158 to Cash. O Cash of $620 received from a customer on account was posted as a debit of $260 to Cash and as a credit of $260 to Accounts Payable. A payment of $68 for supplies was posted as a debit of $86 to Supplies and a credit of $86 to Cash.

Which of the following errors, each considered individually, would cause the trial balance to be out of balance? A transaction was not posted. O A payment of $158 to a creditor was posted as a debit to Accounts Payable and a debit of $158 to Cash. O Cash of $620 received from a customer on account was posted as a debit of $260 to Cash and as a credit of $260 to Accounts Payable. A payment of $68 for supplies was posted as a debit of $86 to Supplies and a credit of $86 to Cash.

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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The Colby Group has the following unadjusted trial balance as of August 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 understated by 6,000. b. A cash receipt of 5,600 was posted as a debit to Cash of 6,500. c. A debit of 11,000 to Accounts Receivable was not posted. d. A return of 150 of defective supplies was erroneously posted as a 1,500 credit to Supplies. e. An insurance policy acquired at a cost of 1,200 was posted as a credit to Prepaid Insurance. f. The balance of Notes Payable was understated by 20,000. g. A credit of 4,800 in Accounts Payable was overlooked when determining the balance of the account. h. A debit of 7,000 for a withdrawal by the owner was posted as a credit to Terry Colby, Capital. i. The balance of 58,100 in Rent Expense was entered as 51,800 in the trial balance. j. Gas, Electricity, and Water Expense, with a balance of 24,150, was omitted from the trial balance. Instructions 1. Prepare a corrected unadjusted trial balance as of August 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.
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