Which of the following record keeping errors would result in the wrong total for debits and credits on theunadjusted trial balance?O A. A cash sale of $1500 was recorded as a debit to cash and a credit to accounts payable.O B. A payment of $2,000 in dividends was recorded asdebit to salary expense instead of a debit to dividends.C. A bill for telephone expense was recorded as a debit to utilities expense and credit to cash.O D. A payment to a supplier for the amount owing on account was recorded as a debit to accounts receivable and a credit to cash.Reset Selection

Unadjusted trial balance has balances of all general ledger accounts without any adjustments.…

Which of the following record keeping errors would result in the wrong total for debits and credits on the unadjusted trial balance? O A. A cash sale of $1500 was recorded as a debit to cash and a credit to accounts payable. O B. A payment of $2,000 in dividends was recorded as a debit to salary expense instead of a debit to dividends. O C.A bill for telephone expense was recorded as a debit to utilities expense and credit to cash. O D. A payment to a supplier for the amount owing on account was recorded as a debit to accounts receivable and a credit to cash. Reset Selection

Which of the following record keeping errors would result in the wrong total for debits and credits on the unadjusted trial balance? O A. A cash sale of $1500 was recorded as a debit to cash and a credit to accounts payable. O B. A payment of $2,000 in dividends was recorded as a debit to salary expense instead of a debit to dividends. O C.A bill for telephone expense was recorded as a debit to utilities expense and credit to cash. O D. A payment to a supplier for the amount owing on account was recorded as a debit to accounts receivable and a credit to cash. Reset Selection

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.
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.
Analyze Trusty Companys trial balance and the additional information provided to determine the following: A. what is causing the trial balance to be out of balance B. any other errors that require corrections that are identified during your analysis C. the effect (if any) that correcting the errors will have on the accounting equation A review of transactions revealed the following facts: A service fee of $18,000 was earned (but not yet collected) by the end of the period but was accidentally not recorded as revenue at that time. A transposition error occurred when transferring the account balances from the ledger to the trial balance. Salaries expense should have been listed on the trial balance as $64,500 but was inadvertently recorded as $46,500. Two machines that cost $9,000 each were purchased on account but were not recorded in company accounting records.