BuyFindarrow_forward

Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615

Solutions

Chapter
Section
BuyFindarrow_forward

Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615
Textbook Problem
154 views

Assume that a trial balance is prepared with an account balance of $8,900 listed as $9,800 and an account balance of $1,000 listed as $100. Identify the transposition and the slide.

To determine

Trial balance:

A trial balance is the summary of all the ledger accounts. The trial balance is prepared to check the total balance of the debit column with the total of the balance of the credit column, which must be equal. The trial balance is usually prepared to check accuracy of ledger balances, and before the preparation of financial statements.

Transposition error:

At the time of posting a transaction when two digits of numbers are transposed, in such case the transposition error occurs.

Slide error:

A slide error occurs, when the decimal point of an amount has been misplaced.

To identify: Whether the errors made is a transposition error or a slide error.

Explanation

  • The account balance recorded as $9,800 instead of $8,900 is a transposition error. Since the two digits of the numbers are transposed...

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

Briefly explain what is meant by the term efficiency continuum.

Fundamentals of Financial Management (MindTap Course List)

In what ways is economics a science?

Essentials of Economics (MindTap Course List)

What is the depredation base?

Intermediate Accounting: Reporting And Analysis

How are appropriated and unappropriated retained earnings shown on the statement of retained earnings?

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

COST OF COMMON EQUITY The future- earnings, dividends, and common stock price of Carpetto Technologies Inc. are...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)