hich of the following errors, each considered individually, would cause the trial balance totals to be unequal? A transaction was not posted. A payment of $543 to a creditor was posted as a debit of $5,431 to Accounts Payable and a credit of $543 to Cash. Cash received from customers on account was posted as a debit of $145 to Cash and a credit of $145 to Accounts Payable. A payment of $142 for insurance was posted as a debit of
hich of the following errors, each considered individually, would cause the trial balance totals to be unequal? A transaction was not posted. A payment of $543 to a creditor was posted as a debit of $5,431 to Accounts Payable and a credit of $543 to Cash. Cash received from customers on account was posted as a debit of $145 to Cash and a credit of $145 to Accounts Payable. A payment of $142 for insurance was posted as a debit of
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which of the following errors, each considered individually, would cause the
A transaction was not posted.
A payment of $543 to a creditor was posted as a debit of $5,431 to Accounts Payable and a credit of $543 to Cash.
Cash received from customers on account was posted as a debit of $145 to Cash and a credit of $145 to Accounts Payable.
A payment of $142 for insurance was posted as a debit of $92 to Prepaid Insurance and a credit of $92 to Cash.
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