If a cash purchase of an office uipment for P50,000 was debited office supplies expense by the me amount, what effect this rnalizing process error has in your al balance? A. The trial balance will be out of balance B. The trial balance will be in-balance C. It require correction in journal book

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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23. If a cash purchase of an office
equipment for P50,000 was debited
to office supplies expense by the
same amount, what effect this
journalizing process error has in your
trial balance? *
O A. The trial balance will be out of balance
B. The trial balance will be in-balance
O C. It require correction in journal book
O D. It requires correction in general ledger
Transcribed Image Text:23. If a cash purchase of an office equipment for P50,000 was debited to office supplies expense by the same amount, what effect this journalizing process error has in your trial balance? * O A. The trial balance will be out of balance B. The trial balance will be in-balance O C. It require correction in journal book O D. It requires correction in general ledger
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