A trial balance prepared at year-end shows total credits exceeds total debts by $765. This discrepancy could
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Question:
A trial balance prepared at year-end shows total credits exceeds total debts by $765. This discrepancy could have been caused by:
a. An error in the general journal where a $765 increase in Accounts Payable was recorded as a $765 decrease in Accounts Payable.
b. The ledger balance for Accounts Payable of $7,650 is entered in the trial balance as $765.
c. A general journal error where a $765 increase in Accounts Receivable was recorded as a $765 increase in Cash.
d. The ledger balance of $850 in Accounts Receivable was entered in the trial balance as $85.
e. An error in recording a $765 increase in Cash as a credit.
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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