If debits do not equal credits, the first stepto find the error is toO Call your manager and ask for advice.O Add the debit and credit columns againO Review the journal entries for errorsMake correcting entries rather thanadjusting entries

There are two sides of general ledger accounts, one is debit side and other is credit side. After…

Answered: If debits do not equal credits, the…

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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The normal balance of an account is the side of the account (either the debit side or the credit side in the ledger) where we expect to find a positive dollar amount. The normal balance of an asset account is a _________________ balance. Group of answer choices break-even debit negative credit
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Hi I asked this question previously and the individual did not explain things clearly. For instance he provided the I'm guessing standard method of finding a missing amount on a certain type of T-Account but then would turn around and solve it using a different method. I am posting the response that were not clear below. If you could tell me what the actual method is and if there exceptions and if so what those are.Answer #1 I needed the BEGINNING balance of a debit account. As you can see the response below the individual provided a formula that included the BB which is UNKOWN because that is WHAT I NEED. At the bottom they change around the equation to come to the answer. So what is the proper way???Part-1. Begining balance of cash account is missing. The cash account is having a debit balance always. The formula for Cash account is as under:Ending balance of Cash Account = Begining Balance of cash account + All debits - All creditsHere,Ending Balance of cash = 9800All debits…
Multiple choice
If a $335.00 debit item in the general journal is posted as a credit: By how much will the trial balance be out of balance? Explain how you might detect such an error.
Prepare separate adjusting entries for any checks that require adjustment. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation (To record adjusting entry for due to Metro Bank-Special Account.) (To record adjusting entry for due to Metro Bank_special Account.) (To record adjusting entry for due from Metro Bank-Special Account.) Debit Credit
I got to find if my general ledger is complete. So, In the general ledger, I add all the debits side and the credit side got a matching balance between the debit and credit in the general ledger. However, in the trial balance the total balance for the debit and credit does not match also differ from the general ledger. I will state that is not a complete because of those reasons. Let me know if I am correct or not. Please do example your reasoning?

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If debits do not equal credits, the first step to find the error is to O Call your manager and ask for advice. Add the debit and credit columns again Review the journal entries for errors Make correcting entries rather than adjusting entries