Question:
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 anexample.
Transcribed Image Text:
Difference between Debit and Credit Columns Column with Identify Account(s) Amount that the Larger Total Account(s) Is Over- or Descriptlon of Posting Error Stated a. $2.400 debit to Rent Expense is b. $4,050 credit to Cash is posted C. | $9,900 debit to the withdrawals account is d. $2.250 debit to Prepaid Insurance e. $42.000 debit to Machinery is f. $4.950 credit to Services Revenue g. $1.440 debit to Store Supplies is $810 Credit Rent Expense Rent Expense understated $810 sted as a $1,590 debit twice as two credits to Cash. debited to Owner's Capital. is posted as a debit to Insurance Expense. ed as a debit to Accounts is as a $495 credit. not posted.