Which of the following statements will not result in the trial balance being unequal?
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- Effects of Errors on Adjusted Trial Balance For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance totals to be unequal. If the error would cause the adjusted trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much. a. The adjustment for accrued wages of $4,590 was journalized as a debit to Wages Expense for $4,590 and a credit to Accounts Payable for $4,590. Enter the difference between the debit and credit totals. If the totals are equal, enter a zero.$fill in the blank 2 b. The entry for $2,860 of supplies used during the period was journalized as a debit to Supplies Expense of $2,860 and a credit to Supplies of $2,680. Enter the difference between the debit and credit totals. If the totals are equal, enter a zero.1. The following entry was made to record the purchase of $700 in supplies on account: 142 Supplies Cash 101 2. The following entry was made to record the payment of $450 in wages: Rent Expense Cash 3. The following entry was made to record a $400 payment to a supplier on account: Supplies 142 200 Cash 101 1 2 3 4 2 5 DATE 6 7 3. 8 Required: Assuming that all entries have been posted, prepare correcting entries for each of the errors. If an amount box does not require an entry, leave it blank. Page: 9 521 101 10 700 450 700 450 200 ACCOUNT TITLE To correct error in which a purchase of supplies on account was credited to Cash To correct error in which a payment of wages was debited to Rent Expense To correct error in which a $400 payment on account was recorded as a $200 cash purchase of supplies DOC. POST. NO. REF. DEBIT CREDIT 1 IN M+S 6 7 8 9 101-Which of the following is an Example of Partial Omission? a. Rent expense of RO 150 were entered in Rent account only b. Rent expense of RO 150 was entered as RO 510 in both the accounts c. Rent expense of RO 150 were not entered at tall d. Rent expense of RO 150 was entered as RO 1500 in both the accounts Clear my choice 2-Which of the following is an example of Error of Complete Omission? a. Salary of RO 200 was entered as RO 2000 in both the accounts b. Salary paid RO 200 was entered only in Salary account c. Salary of RO 200 was entered as RO 20000 in cash account d. Salary paid RO 200 was not entered in both the accounts Clear my choice 3-Which of the following is an example of Books of Prime entry? a. trial balance b. Cash disbursement journal c. purchase ledger d. sales ledger 4-Financial Statements prepared by the business by using Computerized accounting system is an example of a. Both input and output…
- What is the appropriate name of the error which was made under the following circumstances: A payment of N$442 to a supplier by the business was recorded in the relevant ledger accounts for N$424? O a. Error of original entry O b. Error of complete reversal O c. Error of omission O d. Commission errorJournalize the entries to correct the following errors (for each Journal Entry, omit the 4th journalizing step of providing an explanation): (a) An actual purchase of supplies for $300 on account was recorded and posted as a debit to Supplies for $600 and as a credit to Accounts Receivable for $500. (b) An actual receipt of $5,000 from Fees Earned was recorded and posted as a debit to Fees Earned for $3,000 and a credit to Cash for $3,000. JOURNAL Date Description Post. DR CR (a) (b)Ajournal entry for a $220 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $500 and a credit to Cash for $220. Which of the following statements correctly states the effect of the error on the trial balance? O A. The sum of the credits will exceed the sum of the debits by $280. O B. The sum of the debits will exceed the sum of the credits by $220. O C. The sum of the debits will exceed the sum of the credits by $500, O D. The sum of the debits will exceed the sum of the credits by $280.
- 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…For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance totals to be unequal. If the error would cause the adjusted trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much.(a) The adjustment for accrued fees of $5,340 was journalized as a debit to Accounts Payable for $5,340 and a credit to Fees Earned of $5,340.(b) The adjustment for depreciation of $3,260 was journalized as a debit to Depreciation Expense for $3,620 and a credit to Accumulated Depreciation for $3,260.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?