Which of the following errors, each considered individually, would cause the trial balance totals to be unequal? A payment of $591 to a creditor was posted as a debit of $5,911 to Accounts Payable and a credit of $591 to Cash. A transaction was not posted. Cash received from customers on account was posted as a debit of $165 to Cash and a credit of $165 to Accounts Payable. A payment of $144 for insurance was posted as a debit of $94 to Prepaid Insurance and a credit of $94 to Cash.
Which of the following errors, each considered individually, would cause the trial balance totals to be unequal? A payment of $591 to a creditor was posted as a debit of $5,911 to Accounts Payable and a credit of $591 to Cash. A transaction was not posted. Cash received from customers on account was posted as a debit of $165 to Cash and a credit of $165 to Accounts Payable. A payment of $144 for insurance was posted as a debit of $94 to Prepaid Insurance and a credit of $94 to Cash.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Which of the following errors,
each considered individually,
would cause the trial balance
totals to be unequal?
A payment of $591 to a creditor
was posted as a debit of $5,911 to
Accounts Payable and a credit of
$591 to Cash.
A transaction was not posted.
Cash received from customers on
account was posted as a debit of
$165 to Cash and a credit of $165
to Accounts Payable.
A payment of $144 for insurance
was posted as a debit of $94 to
Prepaid Insurance and a credit of
$94 to Cash.
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