4. Complete the following chart to show the effect of errors on a trial balance Trial balance will not balance Trial balance will Debits Credits balance but will greater than greater than not be correct Error Situation credits by (S) debits by (S) (7) A. A transaction for $500 was journalized and posted as $50. B. A debit of $200 to Bank was posted to a customer's account. c. An account with a credit balance of S300 in the ledger was placed on the | debit side of the trial balance. D. A Supplies balance of $500 was not | placed on the trial balance. E. A credit of $200 was posted twice. F. An entire journal entry for $350 was not norted

4. Complete the following chart to show the effect of errors on a trial balance Trial balance will not balance Trial balance will Debits Credits balance but will greater than greater than not be correct Error Situation credits by (S) debits by (S) (7) A. A transaction for $500 was journalized and posted as $50. B. A debit of $200 to Bank was posted to a customer's account. c. An account with a credit balance of S300 in the ledger was placed on the | debit side of the trial balance. D. A Supplies balance of $500 was not | placed on the trial balance. E. A credit of $200 was posted twice. F. An entire journal entry for $350 was not norted

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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