Question

3 of 5 (4 complete) debits and credits equal. During a recent month, Bridget made the following acc * More Info a. In preparing the trial balance, Bridget omitted a $4,000 Notes Payable. The debit to Cash was correct. b. Bridget posted a $70 Utilities Expense as $700. The credit to Cash was correct C. In recording a $400 payment on account, Bridget debited Furniture instead Accounts Payable d. In journalizing a receipt of cash for service revenue, Bridget debited Cash fo $90 instead of the correct amount of $900. The credit was correct. e. Bridget recorded a $340 purchase of office supplies on account by debiting! Office Supplies for $430 and crediting Accounts Payable for $430. Print Done Clear All

Identify each account that has an incorrect balance, and the amount and direction of the errror (such as "Accounts Recievable $500 too high)

Answer 1

a	Total debits	>	Total credits
b	Total debits	>	Total credits
c	Total debits	=	Total credits
d	Total debits	<	Total credits
e	Total debits	=	Total credits

		Amount	Direction of error
a	Notes Payable	$       4,000	Too Low	Notes payable were not recorded. Hence were low
b	Utilities Expense	$          630	Too high	Utilities expense was recorded much more than actual
c	Accounts Payable	$          400	Too high	Accounts payable is still outstanding, hence higher than it should be
d	Cash	$          810	Too Low	Cash was recorded less, so it is low
e	Office Supplies / Accounts Payable	$            90	Too high	Both office supplies and accounts payable have been recorded at higher value