Danielle Battle has trouble keeping her debits and credits equal. During a recent month, Danielle made the following errors:In preparing the trial balance, Danielle omitted a $5,800 note payable.Danielle recorded a $230 purchase of supplies on account by debiting Supplies and crediting Accounts Payable for $320.In recording a $280 payment on account, Danielle debited Supplies instead of Accounts Payable.In journalizing a receipt of cash from service revenue, Danielle debited Cash for $80 instead of the correct amount of $800. The credit was correct.Danielle posted a $900 utility expense as $90. The credit to Cash was correct.а.b.c.d.е.RequiredFor each of these errors, state whether total debits equal total credits on the trial balance.1.2.Identify each account that has an incorrect balance, and indicate the amount and direction of the error (such as "Accounts Receivable $500 too high").Requirement 1. For each of these errors, state whether total debits equal total credits on the trial balance.To help you, transaction (a) has been answered for you. Use this as a guide to answer the remaining parts of Requirement 1.a. .Total debitsTotal creditsb.Total debitsTotal creditsc.Total debitsTotal creditsd.Total debitsTotal creditsе.Total debitsTotal creditsRequirement 2. Identify each account that has an incorrect balance, and indicate the amount and direction of the error (such as "Accounts Receivable $500 too high").For each transaction, identify any accounts with misstated balances and indicate the amount and direction of the error. To help you, transaction (a) has been answered for you.AccountAmountDirection of ErrorNote Payable5,800Too lowa.b. AccountAmountDirection of ErrorNote Payable5,800Too lowC.d.е.Choose from any list or enter any number in the input fields and then continue to the next question.a.b.

1. a. In the provided situation, the notes payable of $5,800 are not recorded in the trial due to…

Danielle Battle has trouble keeping her debits and credits equal. During a recent month, Danielle made the following errors: In preparing the trial balance, Danielle omitted a $5,800 note payable. Danielle recorded a $230 purchase of supplies on account by debiting Supplies and crediting Accounts Payable for $320. In recording a $280 payment on account, Danielle debited Supplies instead of Accounts Payable. In journalizing a receipt of cash from service revenue, Danielle debited Cash for $80 instead of the correct amount of $800. The credit was correct. Danielle posted a $900 utility expense as $90. The credit to Cash was correct. а. b. C. d. e. Required 1. For each of these errors, state whether total debits equal total credits on the trial balance. Identify each account that has an incorrect balance, and indicate the amount and direction of the error (such as "Accounts Receivable $500 too high"). 2.

Danielle Battle has trouble keeping her debits and credits equal. During a recent month, Danielle made the following errors: In preparing the trial balance, Danielle omitted a $5,800 note payable. Danielle recorded a $230 purchase of supplies on account by debiting Supplies and crediting Accounts Payable for $320. In recording a $280 payment on account, Danielle debited Supplies instead of Accounts Payable. In journalizing a receipt of cash from service revenue, Danielle debited Cash for $80 instead of the correct amount of $800. The credit was correct. Danielle posted a $900 utility expense as $90. The credit to Cash was correct. а. b. C. d. e. Required 1. For each of these errors, state whether total debits equal total credits on the trial balance. Identify each account that has an incorrect balance, and indicate the amount and direction of the error (such as "Accounts Receivable $500 too high"). 2.

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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