Question: In this problem, you will be given three errors that may or may not affect the trial balance. You are to dete 1. As a
In this problem, you will be given three errors that may or may not affect the trial balance. You are to dete 1. As a result of each error, will the trial balance still balance? Consider each error separately. If you determine that the trial balance will not balance as a result of the error, then answer the following qua 2. What is the amount of the difference between the two columns of the trial balance? 3. Which trial balance column (debit or credit) will become incrementally larger? Statement of Problem Will the trial balance still balance? What is the which trial balance amount of column will become the incrementally larger? difference? A $500 debit to Accounts Payable was posted as a $500 debit to Cash Yes No Debit Credit A credit to Accounts Payable for $435 was omitted. Yes . No $ 435 Debit Credit The $430 Accounts Receivable balance in the general ledger was listed as $340 in the trial balance Yes No $ 90 Debit Credit n Recheck Try again
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