Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

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Answer 1

Question

Chapter 2, Problem 3DQ

(a)

To determine

Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

(b)

To determine

Identify whether the credit balance of $1,850 in the cash account is an asset, a liability, owner’s equity, revenue, or an expense.

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Answer 2

Question

Chapter 2, Problem 3DQ

(a)

To determine

Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

(b)

To determine

Identify whether the credit balance of $1,850 in the cash account is an asset, a liability, owner’s equity, revenue, or an expense.

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Answer 3

Question

Chapter 2, Problem 3DQ

(a)

To determine

Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

(b)

To determine

Identify whether the credit balance of $1,850 in the cash account is an asset, a liability, owner’s equity, revenue, or an expense.

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Answer 4

Question

Chapter 2, Problem 3DQ

(a)

To determine

Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

(b)

To determine

Identify whether the credit balance of $1,850 in the cash account is an asset, a liability, owner’s equity, revenue, or an expense.

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Answer 5

Chapter 2, Problem 3DQ

(a)

To determine

Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

(b)

To determine

Identify whether the credit balance of $1,850 in the cash account is an asset, a liability, owner’s equity, revenue, or an expense.

Answer 6

Chapter 2, Problem 3DQ

(a)

To determine

Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

Answer 7

Chapter 2, Problem 3DQ

(a)

To determine

Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

Answer 8

(b)

To determine

Identify whether the credit balance of $1,850 in the cash account is an asset, a liability, owner’s equity, revenue, or an expense.

Answer 9

(b)

To determine

Identify whether the credit balance of $1,850 in the cash account is an asset, a liability, owner’s equity, revenue, or an expense.

Answer 10

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Answer 11

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Answer 12

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Answer 13

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Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

Solution Summary: The author explains the reason for the unusual cash account credit balance of 1,850, assuming no errors have occurred during journalizing, and posting.

Concept explainers

Discuss the cause of the unusual balance of the cash account with a credit balance of $1,850, assuming that no errors have occurred during journalizing, and posting.

Identify whether the credit balance of $1,850 in the cash account is an asset, a liability, owner’s equity, revenue, or an expense.

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Chapter 2 Solutions