Question: Effect of Errors on Trial Balance The following errors occurred in posting from a two-column jou 1. Acredit of $8,420 to Accounts Payable was not
Effect of Errors on Trial Balance The following errors occurred in posting from a two-column jou 1. Acredit of $8,420 to Accounts Payable was not posted. 2. An entry debiting Accounts Receivable and crediting Fees Eamed for 515,600 was not posted. 3. Adebit of $730 to Accounts Payable was posted as a credit, Adebit of $2,360 to Supplies was posted twice 5. A debit of $1,660 to Cash was posted to Miscellaneous Expense. 6. Acredit of $250 to Cash was posted as $520. 7. A debit of $6,970 to Wages Expense was posted as $6.790. Considering each case Individually (le, assuming that no other errors had occurred): (a) Indicate by "yes" or "no" whether the trial balance would be out of balance. (b) if the answer to (n) is "yes", indicate the amount by which the trial balance totals would affer () indicate whether the debitor credit column of the trial balance would have the larger total. 18 "no", enter to" in the difference column and select "nelther" from the drop box under "Larger Total". Enter all amounts as positive numbers. Answers should be presented in the followinghorm, with error (1) given as an example: Out of balance Difference Larger Total $8,420 Error Yes 1 Debit 2 $ $ 3 0 $ $ 5 7
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