Homework Answers
Answer: C) The Debit Column of the Trial Balance would be $5494 too Low and Utilities Wouldbe Understated by $ 5494
Actual Utility Expenses =$ 6124
But Posted as = $ 630
Utilities Expenses Understated by = $6124-630 =$ 5,494
Trail balance on the debit column also REduced by $ 5,494 since all the Expenses Balance are Reported on the Debit side of the Blance sheet.
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A $6124 debit to utilities expense was incorrectly posted as a $630 debit. What is the...
Posting errors are identified in the following table. In column (1), enter the amount of the...
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under-or overstated. Item (a) is completed...
Posting errors are identified in the following table. In column (1), enter the amount of the...
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is...
The following Information applies to the questions displayed below.) For each of the posting errors under...
The following Information applies to the questions displayed below.) For each of the posting errors under parts (b) to (g), complete the following: 1. Enter the amount of the difference between the two trial balance columns (deblt and credit) error. 2. Identify the trial balance column (debit or credit) with the larger amount If they are not equal. 3. Identify the account(s) affected by the error. 4. Indicate the amount by which the account(s) in column (3) is under-or overstated....
Posting errors are identified in the following table. In column (1), enter the amount of the...
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under-or overstated. Item (a) is completed...
Exercise 2-20 Identifying effects of posting errors on the trial balance LO A1, P2 Posting errors...
Exercise 2-20 Identifying effects of posting errors on the trial
balance LO A1, P2
Posting errors are identified in the following table. In column
(1), enter the amount of the difference between the two trial
balance columns (debit and credit) due to the error. In column (2),
identify the trial balance column (debit or credit) with the larger
amount if they are not equal. In column (3), identify the
account(s) affected by the error. In column (4), indicate the
amount...
Exercise 2-20 Identifying effects of posting errors on the trial balance LO A1, P2 Posting errors...
Exercise 2-20 Identifying effects of posting errors on the trial balance LO A1, P2 Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), Identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3). Identify the account(s) affected by the error. In column (4), indicate the amount...
Posting errors are identified in the following table. In column (1), enter the amount of the...
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is...
A $4,500 payment for Rent Expense was incorrectly journalized and posted as a debit to Rent...
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A credit to a Liability account was posted as a credit to an Expense account. This...
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[The following information applies to the questions displayed below.] You are told the column totals in...
[The following information applies to the questions displayed
below.]
You are told the column totals in a trial balance are not
equal. After careful analysis, you discover only one error.
Specifically, a correctly journalized credit purchase of an
automobile for $16,850 is posted from the journal to the ledger
with an $16,850 debit to Automobiles and another $16,850 debit to
Accounts Payable. The Automobiles account has a debit balance of
$39,934 on the trial balance. Answer each of the following...
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under-or overstated. Item (a) is completed...
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is...
The following Information applies to the questions displayed below.) For each of the posting errors under parts (b) to (g), complete the following: 1. Enter the amount of the difference between the two trial balance columns (deblt and credit) error. 2. Identify the trial balance column (debit or credit) with the larger amount If they are not equal. 3. Identify the account(s) affected by the error. 4. Indicate the amount by which the account(s) in column (3) is under-or overstated....
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under-or overstated. Item (a) is completed...
Exercise 2-20 Identifying effects of posting errors on the trial
balance LO A1, P2
Posting errors are identified in the following table. In column
(1), enter the amount of the difference between the two trial
balance columns (debit and credit) due to the error. In column (2),
identify the trial balance column (debit or credit) with the larger
amount if they are not equal. In column (3), identify the
account(s) affected by the error. In column (4), indicate the
amount...
Exercise 2-20 Identifying effects of posting errors on the trial balance LO A1, P2 Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), Identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3). Identify the account(s) affected by the error. In column (4), indicate the amount...
[The following information applies to the questions displayed
below.]
You are told the column totals in a trial balance are not
equal. After careful analysis, you discover only one error.
Specifically, a correctly journalized credit purchase of an
automobile for $16,850 is posted from the journal to the ledger
with an $16,850 debit to Automobiles and another $16,850 debit to
Accounts Payable. The Automobiles account has a debit balance of
$39,934 on the trial balance. Answer each of the following...
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