A trial balance has total debits of $29,000 and total credits of $38,000. Which one of the following errors would create this imbalance? Multiple Choice A $4,500 credit to Consulting Revenue in a journal entry was incorrectly posted to the ledger as a $4,500 debit, leaving the Consulting Revenue account with a $10,800 credit balance. A $9,000 debit to Salaries Expense in a journal entry was incorrectly posted to the ledger as a $9,000 credit, leaving the Salaries Expense account with a $1,650 debit balance. A $4,500 debit to Utilities Expense in a journal entry was incorrectly posted to the ledger as a $4,500 credit, leaving the Utilities Expense account with a $5,250 debit balance. A $9,000 debit posting to Equipment was posted mistakenly to Cash. A $4,500 debit posting to Accounts Receivable was posted mistakenly to Land. An entry debiting Cash and crediting Accounts Payable for $9,000 was mistakenly not posted.

A trial balance has total debits of $29,000 and total credits of $38,000. Which one of the following errors would create this imbalance? Multiple Choice A $4,500 credit to Consulting Revenue in a journal entry was incorrectly posted to the ledger as a $4,500 debit, leaving the Consulting Revenue account with a $10,800 credit balance. A $9,000 debit to Salaries Expense in a journal entry was incorrectly posted to the ledger as a $9,000 credit, leaving the Salaries Expense account with a $1,650 debit balance. A $4,500 debit to Utilities Expense in a journal entry was incorrectly posted to the ledger as a $4,500 credit, leaving the Utilities Expense account with a $5,250 debit balance. A $9,000 debit posting to Equipment was posted mistakenly to Cash. A $4,500 debit posting to Accounts Receivable was posted mistakenly to Land. An entry debiting Cash and crediting Accounts Payable for $9,000 was mistakenly not posted.

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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