Chapter 2, Problem 20Q

Which of the following record keeping errors would result in the wrong total for debits and credits on the unadjusted trial balance? O A. A cash sale of $1500 was recorded as a debit to cash and a credit to accounts payable. O B. A payment of $2,000 in dividends was recorded as debit to salary expense instead of a debit to dividends. C. A bill for telephone expense was recorded as a debit to utilities expense and credit to cash. O D. A payment to a supplier for the amount owing on account was recorded as a debit to accounts receivable and a credit to cash. Reset Selection

An error was discovered in computing and paying the wages of an employee of World Appliance Repair. world received cash from the employee for the amount of the overpayment. Which of the following entries for world records this transaction?   Question 10 options:   Wages Payable, debit; Wages Expense, credit   Wages Expense, debit; Wages Payable, credit   Wages Expense, debit; Cash, credit   Cash, debit; Wages Expense, credit

Which of the following errors, each considered individually, would cause the trial balance to be out of balance? O A transaction was not posted. O A payment of $158 to a creditor was posted as a debit to Accounts Payable and a debit of $158 to Cash. O Cash of $620 received from a customer on account was posted as a debit of $260 to Cash and as a credit of $260 to Accounts Payable. O A payment of $68 for supplies was posted as a debit of $86 to Supplies and a credit of $86 to Cash. Save for Later Attempts: 0 of 1 used Submit An

B.2

Which of the following errors, each considered individually, would cause the trial balance totals to be unequal? A payment of $481 to a creditor was posted as a debit of $4,819 to Accounts Payable and a credit of $481 to Cash. A transaction was not posted. Cash received from customers on account was posted as a debit of $163 to Cash and a credit of $163 to Accounts Payable. A payment of $90 for insurance was posted as a debit of $40 to Prepaid Insurance and a credit of $40 to Cash.

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.

Answer only.

4. Complete the following chart to show the effect of errors on a trial balance Trial balance will not balance Trial balance will Debits Credits balance but will greater than greater than not be correct Error Situation credits by ($) debits by ($) (r) A. A transaction for $500 was journalized and posted as $50. B. A debit of $200 to Bank was posted to a customer's account. c. An account with a credit balance of $300 in the ledger was placed on the debit side of the trial balance. D. A Supplies balance of $500 was not placed on the trial balance. E. A credit of $200 was posted twice. F. An entire journal entry for $350 was not posted. G. The Revenue account balance of $42 000 was listed on the trial Page 4

balance. In searching for the error, an employee discovered that a transaction for the The trial balance prepared by Reynaldo Abas Consulting as at Sept. 30, 2023 was not in purchase of a typewriter on credit for P6,100 has been recorded by a debit of P6,100 to the Office Equipment account and a debit of P6,100 to Accounts Payable. The credit Problem #15 Effects of Errors on the Trial Balance balance. In searching for the error, an employee discovered that a transaction for 98 column of the incorrect trial balance had a total of P926,000. Was the Office Equipment account overstated, understated, or correctly stated in the trial balance? 0Tfakd a. b. Was the total of the debit column of the trial balance overstated, understated, or correctly stated? Was the Accounts Payable account overstated, understated, or correctly С. stated in the trial balance? d. Was the total of the credit column of the trial balance overstated, understated or correctly stated? How much was the total of the…