Fundamental Accounting Principles
Fundamental Accounting Principles
23rd Edition
ISBN: 9781259536359
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter 2, Problem 21E
To determine

Concept Introduction

Trial Balance: The Trial Balance is a list of closing balance of all the ledger accounts on a particular date. It is a summary of all T-account balances in the ledger and the total of debit and credit balances should always match.

Posting errors: Posting errors are errors of posting the wrong amount or posting in wrong accounts while carrying over an entry from a journal to a ledger.

1.a.

To Comment: Whether the debit column total of the trial balance is overstated, understated, or correctly statedt.

To determine

To Comments: Whether the credit column total of the trial balance is overstated, understated, or correctly stated.

To determine

To Comments: Whether the Automobiles account balance is overstated, understated, or correctly stated in the trial balance.

To determine

To Comments: Whether the Accounts Payable account balance is overstated, understated, or correctly stated in the trial balance.

To determine

To Calculate: The total of credit column before the correction of error.

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Fundamental Accounting Principles

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