Question

For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance total to be unequal, indicate whether the debit or credit total is higher and by how much.
a. A payment of $468 on account was debited to Accounts Payable for $486 and credited to Cash for $486.
b. A purchase of supplies of $1,130 was debited to Supplies for $1,130 and debited to Accounts Payable for $1,130.
c. The payment of an insurance premium of $2,450 for a two-year policy was debited to Prepaid Insurance for $2,450 and credited to Cash for $2,540.



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  • CreatedJuly 17, 2012
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