EX 2-17 Effect of errors on trial balance OBJ. 4 Indicate which of the following errors, each considered individually, would cause the sd trial balance totals to be unequal: a. A fee of $21,000 earned and due from a client was not debited to Accounts Receivable or credited to a revenue account, because the cash had not been received. b. A receipt of $11,300 from an account receivable was journalized and posted as a debit of $11,300 to Cash and a credit of $11,300 to Fees Earned. C. A payment of $4,950 to a creditor was posted as a debit of $4,950 to Accounts Pay- able and a debit of $4,950 to Cash. d. A payment of $5,000 for equipment purchased was posted as a debit of $500 to Equip- ment and a credit of $500 to Cash. e. Payment of a cash dividends of $19,000 was journalized and posted as a debit of $1,900 to Salary Expense and a credit of $19,000 to Cash. Indicate which of the preceding errors would require a correcting entry. (A) 00
EX 2-17 Effect of errors on trial balance OBJ. 4 Indicate which of the following errors, each considered individually, would cause the sd trial balance totals to be unequal: a. A fee of $21,000 earned and due from a client was not debited to Accounts Receivable or credited to a revenue account, because the cash had not been received. b. A receipt of $11,300 from an account receivable was journalized and posted as a debit of $11,300 to Cash and a credit of $11,300 to Fees Earned. C. A payment of $4,950 to a creditor was posted as a debit of $4,950 to Accounts Pay- able and a debit of $4,950 to Cash. d. A payment of $5,000 for equipment purchased was posted as a debit of $500 to Equip- ment and a credit of $500 to Cash. e. Payment of a cash dividends of $19,000 was journalized and posted as a debit of $1,900 to Salary Expense and a credit of $19,000 to Cash. Indicate which of the preceding errors would require a correcting entry. (A) 00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:EX 2-17
Effect of errors on trial balance
bolno Indicate which of the following errors, each considered individually, would cause the
ad trial balance totals to be unequal:
a. A fee of $21,000 earned and due from a client was not debited to Accounts Receivable
or credited to a revenue account, because the cash had not been received.
OBJ. 4
b. A receipt of $11,300 from an account receivable was journalized and posted as a debit
of $11,300 to Cash and a credit of $11,300 to Fees Earned.
c. A payment of $4,950 to a creditor was posted as a debit of $4,950 to Accounts Pay-
able and a debit of $4,950 to Cash.
d. A payment of $5,000 for equipment purchased was posted as a debit of $500 to Equip-
ment and a credit of $500 to Cash.
e. Payment of a cash dividends of $19,000 was jour
$1,900 to Salary Expense and a credit of $19,000 to Cash.
alized and posted as
debit of
Indicate which of the preceding errors would require a correcting entry.
(8)
EX 2-18 Errors in trial balance
OBJ. 4
The following preliminary unadjusted trial balance of Ranger Co., a sports ticket agency,
does not balance:
Ranger Co.
Unadjusted Trial Balance
August 31, 2016
Debit
Balances
Credit
Balances
77,600
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