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. The adjustment of $9,800 for accrued fees earned was journalized as a debit to Accounts Receivable for $9,800 and a credit to Fees Earned for $8,900. The adjustment of depreciation of $3,600 was omitted from the end-of-period adjusting entries.
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. The adjustment of $9,800 for accrued fees earned was journalized as a debit to Accounts Receivable for $9,800 and a credit to Fees Earned for $8,900. The adjustment of depreciation of $3,600 was omitted from the end-of-period adjusting entries.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
For each of the following errors, considered individually, indicate whether the error would cause
the adjusted
totals to be unequal, indicate whether the debit or credit total is higher and by how much.
- The adjustment of $9,800 for accrued fees earned was journalized as a debit to
- The adjustment of
depreciation of $3,600 was omitted from the end-of-periodadjusting
entries.
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