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A trial balance will indicate the existence of an error if: a                      The purchase of a typewriter for $870 is entered in the accounting records as a debit of $87 to Office Equipment and a credit of $87 to Accounts Payable. b                      The collection of $75 cash is recorded by a debit to Accounts Receivable and a credit to Cash. c                      A journal entry debiting Equipment is posted as a debit to the Building account. d                      A ledger account with a credit balance is listed as a debit amount in the trial balance.

A trial balance will indicate the existence of an error if: a                      The purchase of a typewriter for $870 is entered in the accounting records as a debit of $87 to Office Equipment and a credit of $87 to Accounts Payable. b                      The collection of $75 cash is recorded by a debit to Accounts Receivable and a credit to Cash. c                      A journal entry debiting Equipment is posted as a debit to the Building account. d                      A ledger account with a credit balance is listed as a debit amount in the trial balance.

FINANCIAL ACCOUNTING
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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A trial balance will indicate the existence of an error if:

a                      The purchase of a typewriter for $870 is entered in the accounting records as a debit of $87 to Office Equipment and a credit of $87 to Accounts Payable.

b                      The collection of $75 cash is recorded by a debit to Accounts Receivable and a credit to Cash.

c                      A journal entry debiting Equipment is posted as a debit to the Building account.

d                      A ledger account with a credit balance is listed as a debit amount in the trial balance.

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