6. When posting from the journal to the ledger, the accountant failed to pos debit to Cash. The effect of this error will be that the a. amounts in the journal will be in error. b. trial balance will not balance. С. total debits in the trial balance will be larger than the total credits. d. Cash account balance will be overstated.
6. When posting from the journal to the ledger, the accountant failed to pos debit to Cash. The effect of this error will be that the a. amounts in the journal will be in error. b. trial balance will not balance. С. total debits in the trial balance will be larger than the total credits. d. Cash account balance will be overstated.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Multiple choice
Transcribed Image Text:dger account.
d. explanation in the journal.
6. When posting from the journal to the ledger, the accountant failed to post
debit to Cash. The effect of this error will be that the
amounts in the journal will be in error.
b. trial balance will not balance.
a.
C.
total debits in the trial balance will be larger than the total credits.
d. Cash account balance will be overstated.
7. Shower Flower Company bought equipment, paying cash, P2,500. The acc
would record the following journal entry:
a.
Cash
P2,500
Equipment
P2,500
b.) Equipment
P2,500
Cash
P2,500
c., Equipment
P2,500
С.
P2,500
Accounts Payable
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