Chapter 2, Problem 2.25E

(1)

To determine

To state: If the errors equal total debit and total credit on the trial balance.

Introduction: The financial statements of a company include the balance sheet, income statement, and cash flow statement. All these statements help the internal and external users of financial statements help in analyzing and concluding the financial position of the respective company.

(b)

To determine

To identify: The account with incorrect balance along with the amount.

Introduction: The financial statements of a company include the balance sheet, income statement, and cash flow statement. All these statements help the internal and external users of financial statements help in analyzing and concluding the financial position of the respective company.