What is the answer to the question I uploaded. Thanks Encircle your final answers.1. An entity's unadjusted trial balance does not equal. The following information was determined:• The debit posting for a sale on account was omitted.5,00034,000The balance of Prepaid assets was listed as a credit instead ofdebitThe balance of Office expense was listed as Rent expense16,000Accounts payable was listed as a debit instead of credit4,000How much is the difference between the total debits and total credits in the trial balance?

Trial Balance is a statement made to find out the arithmetical accuracy of books of accounts. It…

Encircle your final answers. 1. An entity's unadjusted trial balance does not equal. The following information was determined: • The debit posting for a sale on account was omitted. • The balance of Prepaid assets was listed as a credit instead of 5,000 34,000 debit • The balance of Office expense was listed as Rent expense 16,000 • Accounts payable was listed as a debit instead of credit 4,000 How much is the difference between the total debits and total credits in the trial balance?

Encircle your final answers. 1. An entity's unadjusted trial balance does not equal. The following information was determined: • The debit posting for a sale on account was omitted. • The balance of Prepaid assets was listed as a credit instead of 5,000 34,000 debit • The balance of Office expense was listed as Rent expense 16,000 • Accounts payable was listed as a debit instead of credit 4,000 How much is the difference between the total debits and total credits in the trial balance?

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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