Effect of errors on trial balanceThe following errors occurred in posting from a two-column journal:1. A credit of $6,000 to Accounts Payable was not posted. 2. An entry debiting Accounts Receivable and crediting Pees Earned for$5,300 was not posted3. A debit of $2,700 to Accounts Payable was posted as a credit. 4. A debit of $480 to Supplies was posted twice.5. A debit of $3,600 to Cash was posted to Miscellaneous Expense.6. A credit of $780 to Cash was posted as $870.7. A debit of $12,620 to Wages Expense was posted as $12,260. (a) (b) (c) Error Out of Balance Difference Larger Total 1. yes $6000 debit Considering each case individually (i.e., assuming that no other errors had occurred), indicate (a) by "yes" or "no" whether the trial balancewould be out of balance; (b) if answer to (a) is "yes," the amount bywhich the trial balance totals would differ; and (c) whether the Debit orCredit column of the trial balance would have the larger total. Answersshould be presented in the following form, with error (1) given as anexample:
Effect of errors on
The following errors occurred in posting from a two-column journal:
1. A credit of $6,000 to Accounts Payable was not posted.
2. An entry debiting Accounts Receivable and crediting Pees Earned for
$5,300 was not posted
3. A debit of $2,700 to Accounts Payable was posted as a credit.
4. A debit of $480 to Supplies was posted twice.
5. A debit of $3,600 to Cash was posted to Miscellaneous Expense.
6. A credit of $780 to Cash was posted as $870.
7. A debit of $12,620 to Wages Expense was posted as $12,260.
| (a) | (b) | (c) | |
| Error | Out of Balance | Difference | Larger Total |
| 1. | yes | $6000 | debit |
Considering each case individually (i.e., assuming that no other errors had occurred), indicate (a) by "yes" or "no" whether the trial balance
would be out of balance; (b) if answer to (a) is "yes," the amount by
which the trial balance totals would differ; and (c) whether the Debit or
Credit column of the trial balance would have the larger total. Answers
should be presented in the following form, with error (1) given as an
example:
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
