Question: The following errors occurred in posting from a two-column journal: 1. A credit of $7,210 to Accounts Payable was not posted. 2. A debit of

The following errors occurred in posting from a two-column journal:
1. A credit of $7,210 to Accounts Payable was not posted.
2. A debit of $3,000 to Cash was posted to Miscellaneous Expense.
3. A credit of $120 to Cash was posted as $710.
4. A debit of $2,540 to Wages Expense was posted as $2,450.
5. An entry debiting Accounts Receivable and crediting Fees Earned for $10,000 was not posted.
6. A debit of $850 to Accounts Payable was posted as a credit.
7. A debit of $1,500 to Supplies was posted twice.
Considering each case individually (i.e., assuming that no other errors had occurred), indicate (a) by €œyes€ or €œno€ whether the trial balance would be out of balance; (b) if the answer to (a) is €œyes,€ the amount by which the trial balance totals would differ; and (c) whether the Debit or Credit column of the trial balance would have the larger total.
Answers should be presented in the following form, with error (1) given as an example:

The following errors occurred in posting from a two-column journal:
1.

Error Out of Balance Difference Larger Total yes S7.210 debit

Step by Step Solution

3.34 Rating (178 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a b c Error Out of Balance Differenc... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

529-B-A-L (5635).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!