A trial balance has total debits of ($20,000) and total credits of ($24,500.) Which one of the
Question:
A trial balance has total debits of \($20,000\) and total credits of \($24,500.\) Which one of the following errors would create this imbalance? Explain.
a. A \($2,250\) debit to Rent Expense in a journal entry is incorrectly posted to the ledger as a \($2,250\) credit, leaving the Rent Expense account with a \($3,000\) debit balance.
b. A \($4,500\) debit to Salaries Expense in a journal entry is incorrectly posted to the ledger as a \($4,500\) credit, leaving the Salaries Expense account with a \($750\) debit balance.
c. A \($2,250\) credit to Consulting Fees Earned in a journal entry is incorrectly posted to the ledger as a \($2,250\) debit, leaving the Consulting Fees Earned account with a \($6,300\) credit balance.
Step by Step Answer:
College Accounting Ch 1-14
ISBN: 9781260904314
1st Edition
Authors: John Wild, Vernon Richardson, Ken Shaw