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 as an example. (Select "None" if there is no effect.)
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Homework Answers
| Description of Posting Error | Difference between Debit and Credit Columns | Column with the Larger Total | Identify Account(s) Incorrectly Stated | Amount That Account(s) Over- or Understated | |
| a. | $1,480 debit to Rent Expense is posted as a $1,840 debit. | $360 | Credit | Rent Expense | Rent Expense is understated by $360 |
| b. | $2,960 credit to Cash is posted twice as two credits to Cash. | $2,960 | Credit | Cash | Cash is understated by $2,960 |
| c. | $5,920 debit to the Withdrawals account is debited to Owner’s Capital. | $0 | NA | WITHDRAWLAS AND CAPITAL | WITHDRAWALS AND CAPITAL BOTH account is understated by $5,920 |
| d. | $1,330 debit to Prepaid Insurance is posted as a debit to Insurance Expense. | $0 | None | Prepaid insurance;Insurance expense | Prepaid insurance is understated by $1,330 Insurance expense is overstated by 1330 |
| e. | $25,900 debit to Machinery is posted as a debit to Accounts Payable. | $0 | None | Machinery | Machinery is understated by $25,900 |
| Accounts payable | Accounts payable is understated by $25,900 | ||||
| f. | $3,860 credit to Services Revenue is posted as a $386 credit. | $3,474 | Debit | Services revenue | Services revenue is understated by $3,474 |
| g. | $520 debit to Store Supplies is not posted. | $520 | Credit | Store supplies | Store supplies is understated by $520 |
Add Answer to:
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...
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...
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 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...
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....
The bookkeeper for Birmingham Corporation made these errors in journalizing and posting. For each error, indicate...
The bookkeeper for Birmingham Corporation made these errors in journalizing and posting. For each error, indicate whether the trial balance will balance; if the trial balance will not balance, indicate the amount of the difference, and the trial balance column that will have the larger total. Consider each error separately. Use the following form, in which error 1 is given as an example. Error In Balance Difference Larger Column 1. No $400 Debit 2. Yes $ 0 None 3. Yes...
I want you to answer question 2-19 with explanations Chapter 2 Analyzing and Recording Transactions use...
I want you to answer question 2-19 with explanations
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Please give me answers to 2-19
Chapter 2 Analyzing and Recording Transactions use the information in Exercise 2-16 to prepare an August statement of owner's equity for Help Today ind owners capital account balance at August I was $0, and the owner invested $102,000 cash in the company on August 2 Exercise 2-17 Preparing a statement owner's equity P3 Use the information in Exercise 2-16 to prepare an August 31 balance sheet for Help Today. Hint: Compute the owner's capital...
Posting errors are identified in the following table. In column (1).
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 accounts affected by the error in column (4). Indicate the amount by which the account in column (3) is under or overstated. Item (a) is...
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...
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 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.) 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....
The bookkeeper for Birmingham Corporation made these errors in journalizing and posting. For each error, indicate whether the trial balance will balance; if the trial balance will not balance, indicate the amount of the difference, and the trial balance column that will have the larger total. Consider each error separately. Use the following form, in which error 1 is given as an example. Error In Balance Difference Larger Column 1. No $400 Debit 2. Yes $ 0 None 3. Yes...
I want you to answer question 2-19 with explanations
Chapter 2 Analyzing and Recording Transactions use the information in Exercise 2-16 to prepare an August statement of owner's equity for Help Today ind owners capital account balance at August I was $0, and the owner invested $102,000 cash in the company on August 2 Exercise 2-17 Preparing a statement owner's equity P3 Use the information in Exercise 2-16 to prepare an August 31 balance sheet for Help Today. Hint: Compute...
Please give me answers to 2-19
Chapter 2 Analyzing and Recording Transactions use the information in Exercise 2-16 to prepare an August statement of owner's equity for Help Today ind owners capital account balance at August I was $0, and the owner invested $102,000 cash in the company on August 2 Exercise 2-17 Preparing a statement owner's equity P3 Use the information in Exercise 2-16 to prepare an August 31 balance sheet for Help Today. Hint: Compute the owner's capital...
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 accounts affected by the error in column (4). Indicate the amount by which the account in column (3) is under or overstated. Item (a) is...
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