In this problem, you will be given three errors that may or may not affect the trial balance. You are to determine the folle 1. As a result of each error, will the trial balance still balance? Consider each error separately. If you determine that the trial balance will not balance as a result of the error, then answer the following questions: 2. What is the amount of the difference between the two columns of the trial balance? 3. Which trial balance column (debit or credit) will become incrementally larger? Statement of Problem. A credit entry to Accounts Payable for $545 was posted twice. A receipt of $1,600 on account for services already performed was recorded as a debit to Cash for $1,600 and a credit to Service Revenue for $160. The $630 balance in Service Revenue was listed as a debit. Will the trial. balance still balance? O Yes No O Yes No O Yes No What is the amount of the difference? $O 9 $0 SO which trial balance column will become incrementally larger? Debit Debit Debit Credit Credit Credit

In this problem, you will be given three errors that may or may not affect the trial balance. You are to determine the folle 1. As a result of each error, will the trial balance still balance? Consider each error separately. If you determine that the trial balance will not balance as a result of the error, then answer the following questions: 2. What is the amount of the difference between the two columns of the trial balance? 3. Which trial balance column (debit or credit) will become incrementally larger? Statement of Problem. A credit entry to Accounts Payable for $545 was posted twice. A receipt of $1,600 on account for services already performed was recorded as a debit to Cash for $1,600 and a credit to Service Revenue for $160. The $630 balance in Service Revenue was listed as a debit. Will the trial. balance still balance? O Yes No O Yes No O Yes No What is the amount of the difference? $O 9 $0 SO which trial balance column will become incrementally larger? Debit Debit Debit Credit Credit Credit

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 7E: The following errors were made in journalizing transactions. In each case, calculate the amount of...

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