Chapter 2, Problem 20Q

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.

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 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 debit 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

An error was discovered in computing and paying the wages of an employee of World Appliance Repair. world received cash from the employee for the amount of the overpayment. Which of the following entries for world records this transaction?   Question 10 options:   Wages Payable, debit; Wages Expense, credit   Wages Expense, debit; Wages Payable, credit   Wages Expense, debit; Cash, credit   Cash, debit; Wages Expense, credit

After preparing the trial balance, the accountant finds that the total of debit side is OMR 125,600 and Total of Credit Side OMR 126,500. This difference should be treated before rectification of errors was a. Debit Suspense account with OMR 900 b. Suspense account should be cancelled with OMR 1800 c. Debit Suspense account OMR 125,600 and Credit Trial Balance OMR 126,500 d. Credit Suspense account with OMR 900

Which of the following errors, each considered individually, would cause the trial balance to be out of balance? O 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. O A payment of $68 for supplies was posted as a debit of $86 to Supplies and a credit of $86 to Cash. Save for Later Attempts: 0 of 1 used Submit An

8. If a $335.00 debit item in the general journal is posted as a debit for $353.00, and as a credit for the correct amount of $335.00 a) By how much will the trial balance be out of balance? $ b) Will the debits be understated or overstated?_ c) What do accountants call this type of error?

Ajournal entry for a $220 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $500 and a credit to Cash for $220. Which of the following statements correctly states the effect of the error on the trial balance? O A. The sum of the credits will exceed the sum of the debits by $280. O B. The sum of the debits will exceed the sum of the credits by $220. O C. The sum of the debits will exceed the sum of the credits by $500, O D. The sum of the debits will exceed the sum of the credits by $280.

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.