Question: Complete the following table by filling in the blanks. For each of the listed posting errors: 1. Enter in column (1) the amount of the
1. Enter in column (1) the amount of the difference that the error would create between the two trial balance columns (show a zero if the columns would balance).
2. Identify if there would be a difference between the two columns, and identify in column (2) the trial balance column that would be larger.
3. Identify the account(s) affected in column (3).
4. Identify the amount by which the account(s) is (are) under-or overstated in column (4). The answer for the first error is provided as an example.
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Difference Between Debit and Credit Columns Column WithIdentify Amount That Account(s) Is the Larger Total Account(s) Incorrectly (Are) Over or Description Stated Understated 5810 Credit Rent Expense Rent Expense a. A $2,400 debit to Rent Expense was b. A $42,000 debit to Machinery was C.A 4,950 credit to Services Revenue d. A 51.440 debit to Store Supplies was e. A $2,250 debit to Prepaid Insurance is understated by 3810 posted as a S1,590 debit. posted as a debit to Accounts Payable. was posted as a $495 credit. not posted at all. was posted as a debit to Insurance Expense t. A 54,050 credit to Cash was posted twice as two credits to the Cash account. g. A $9,900 debit to the owner's withdrawals account was debited to the owner's capital account
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